MNI BRIEF: Japan's Q4 Revised GDP Seen Little Changed

Japan's economy grew at largely similar pace as initially estimated in the October-December quarter, although capital investment is expected to be slightly better than the initial estimate, economists predicted in the wake of a key government survey.

The median forecast by six economists for revised Q4 GDP is a rise of 0.2% on quarter, or an annualized 0.8%, compared with the preliminary estimate of a rise of 0.2% q/q, or an annualized 0.6%. The forecasts ranged from 0.2% to 0.4% q/q, and 0.6% to 1.5% annualized.

The Cabinet Office will release revised (second preliminary) GDP data for the October-December quarter at 0850 JST on Thursday, March 9 (2350 GMT on Wednesday, March 8).

In October-December, capital investment is forecast by economists to be revised up to -0.3% on quarter from the initial reading of -0.5%, with forecasts ranging from -0.2% to -0.8%, based on the results of the Ministry of Finance's survey released on Thursday.

Private consumption is forecast by economists to be unrevised at a rise of 0.5% on quarter. Economists expected public investment to be revised to -0.1% q/q in Q4 from -0.5% in Q3. The contribution of private-sector inventories to the total domestic output is forecast to be unrevised at -0.5 percent point. Net exports of goods and services - exports minus imports - are expected to have made a positive 0.3 percentage point contribution to the total domestic output, unchanged from the preliminary estimate.