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TOKYO: Japan's economy grew at a slower rate than previously thought in the fourth quarter of 2009, new data showed Thursday, raising fresh concerns over the country's recovery from a crushing recession.
The world's number two economy expanded at a pace of 0.9 per cent in October-December from the previous quarter, revised down from an initial estimate of 1.1 per cent growth, the government said.
And a revised figure for July-September showed a contraction of 0.1 per cent, illustrating how Japan's nascent revival stalled in the third quarter.
With the pace of recovery slower than previously thought, the latest gloomy data will add to the pressure being placed on the Bank of Japan by the government to boost growth-lifting efforts, analysts said.
Gross domestic product (GDP) expanded at an annualised pace of 3.8 per cent in the fourth quarter of last year, less than the 4.6 per cent previously thought and missing analyst expectations.
Japan's economic output dived last year as exports and factory production collapsed during the global economic downturn.
The country's economy contracted 5.2 per cent for the whole of 2009, even worse than an initial estimate of a 5.0 per cent decline, the latest figures showed.
While Japan remained ahead of China as the world's number two economy in 2009, the latest figures have brought it closer to losing the position it has held for more than 40 years.
With China expected to enjoy another year of strong growth in 2010, Japan risks ending this year in third place worldwide as it struggles to cope with renewed deflation and a shrinking population, analysts said.
- AFP/sc
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