Japan growth weaker than thought

Date: Thursday 11 Mar 2010

Japan’s economy grew less than previously thought in the last quarter of 2009, new figures show, demonstrating that recovery in the Asian country may be weaker than thought.

The economy is now estimated to have grown at a pace of 0.9% during the year rather than the previously thought 1.1%.

The lower revised figure is partly due to companies spending less than expected on factories and equipment during the period.

Revised figures also showed that Japan’s economic recovery stalled in the third quarter, with GDP declining by 0.1%.

Japan has been at the centre of the global economic downturn, with weakness in the US and Europe hitting demand for Japanese products such as TVs and cars.

It remained a bigger economy than China last year, but that is likely to change this year with China expecting to grow by 8%.

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