The Japanese economy saw a 12.1% annual rate of contraction in the fourth quarter on a steep decline in exports and a fall in private investment, revised data showed Thursday.
That's an improvement from the first preliminary figures on real gross domestic product released in mid-February.
The economy shrank 12.1% on an annualized basis in the October-to-December period, or 3.2% from the previous quarter, according to the revised data released by the Cabinet Office.
Preliminary estimates released last month had showed a 12.7% annualized contraction for the fourth quarter, a decline of 3.3% from the previous quarter.
Exports were down 13.8% on the quarter, business investment fell 5.4% and private consumption eased 0.4%
