Saudi- Japan's economy grows 1.6 per cent in fourth quarter

(MENAFN- Saudi Press Agency)
Tokyo, Jumada II 20, 1439, March 08, 2018, SPA -- Japan's economy grew at an annualized rate of 1.6 per
cent in the last quarter of 2017, revised up from a preliminary
estimate of 0.5 per cent, the government said Thursday, according to dpa.
The reading beat the 0.8-per-cent growth forecast by analysts surveyed by the Nikkei business daily and represented the eighth straight quarter of economic expansion.
Corporate capital spending climbed 1 per cent quarter-on-quarter, revised up from an initial figure of 0.7 per cent estimated in February, the Cabinet Office said in a report.
Private consumption, a major component of output, rose 0.6 per cent in the October-to-December period, also upgraded from a preliminary reading of 0.3-per-cent reported a month ago, the office said.
The government revised up the nation's economic growth in the July-to-September quarter to 2.4 per cent from 2.2 per cent estimated in February.
--SPA
03:56 LOCAL TIME 00:56 GMT