REVISED Q4 GDP INDICATES JAPAN EXITING FROM RECESSION
TOKYO – Japan’s fourth quarter GDP has been revised upward to 0.2% q/q, saar compared to the preliminary estimate of -0.4%, ending Japan’s technical recession after the previous two quarters’ negative growth. Private consumption and public investment led the pickup. Tne new data also shows that Japan recorded a third straight current account deficit of -¥364.8B (Prior: -¥264.1B, Consensus: -¥611.5B) as exports have yet to see a boost from the weakening yen. The Bank of Japan has now upgraded its economic outlook.