4Q 2011 - GDP Growth 4.7% annualised

The Cabinet Office announced Friday the growth rate of the country's gross domestic product on a real basis in the fourth quarter of fiscal 2011 was revised upward to 1.2 percent, or 4.7 percent on an annualized basis, from the previous quarter.

In an interim report in May, the seasonally adjusted figure, excluding price fluctuations, notched an increase of 1 percent, or 4.1 percent on an annualized basis, from the third quarter of fiscal 2011.

The upward revision was mainly because the rate of decline in capital investment was revised from minus 3.9 percent to minus 2.1 percent based on results of the Finance Ministry's Financial Statements Statistics of Corporations by Industry in the fourth quarter.

The revised data showed the nation's economic growth in the quarter was up partly on demand for reconstruction from the Great East Japan Earthquake.

The rate of increase in consumer spending, which accounts for about 60 percent of GDP, was also revised upward to 1.2 percent from 1.1 percent in the interim report.

The rate of increase in exports was revised upward to 3 percent from 2.9 percent in the interim report.

Reflecting price fluctuations, the growth of nominal GDP, which more closely reflects consumer sentiment, was revised upward to 1.2 percent, or an annualized 4.9 percent, from 1 percent, or an annualized 4.1 percent, in the interim report.

The real GDP in fiscal 2011 fell 0.004 percent from the previous fiscal year. Though the rate of increase was revised upward from minus 0.01 percent in the interim report, positive growth was not achieved.

The nominal GDP also shrank 2 percent, revised down from 1.9 percent in the interim report.


http://www.yomiuri.co.jp/dy/business/T120608004031.htm