Japan’s GDP growth in Q4 downgraded to annualized 11.7 pct.

TOKYO, Mar 9 (XINHUA/APP):Japan’s economic growth in the October-December period was downgraded from an annualized expansion of 12.7 percent initially reported to an annualized real 11.7 percent from the previous quarter, the government said in a report on Tuesday.
According to the cabinet office, the rise in the real gross domestic product (GDP), the total value of goods and services produced in the country and adjusted for inflation, equates to a 2.8 percent expansion on a seasonally adjusted quarterly basis.
The real GDP contraction in 2020, however, was left unchanged by the revision for the reporting quarter from the preliminary 4.8 percent, which was the first decline since a 5.7 percent shrinkage was logged in 2009, the cabinet office said.

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