Japan revises GDP to nearly flat, showing fragile recovery

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan’s economy grew at an annual pace of 0.1% in October-December, in a downgrade from an earlier 0.6% increase. The data released Tuesday show the world’s third-largest economy barely eking out growth. The Cabinet Office’s revised figure for seasonally adjusted gross domestic product, or GDP, for the last three months of 2022 showed growth on quarter was flat, down from an earlier estimate given in February at 0.2% growth. The annual rate shows what the growth would have been if the on-quarter rate continues for a year. The numbers underline Japan’s fragile recovery, although the easing of COVID-related restrictions has helped.