Japan’s economic growth falls below expectations


AP

TOKYO — Revised data show Japan’s economy expanded at a slower than hoped for 1.2 percent annual pace in the last quarter of 2016.

The figure released Wednesday was slightly higher than the preliminary estimate of 1.0 percent annual growth for the world’s No. 3 economy. It was below economists’ forecasts for growth of 1.4 percent or higher.

In quarterly terms, the economy expanded 0.3 percent in the October-December. The earlier estimate was 0.2 percent.

A slight increase in corporate investment appeared to be the main factor behind the slight upgrade.

Private demand remained flat, and public spending fell slightly.