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REPEAT: MNI: Japan Motegi: Consumption, Capex To Lead Recovery 

Repeats Story Initially Transmitted at 06:34 GMT Feb 14/01:34 EST Feb 14
     TOKYO (MNI) - Consumer spending and business investment are expected to
lead Japan's modest economic recovery, Economic and Fiscal Policy Minister said
Wednesday, following the release of preliminary Q4 GDP data.
     "We judge that the economy is recovering moderately," he told reporters.
     "Looking ahead, amid overseas economic recovery and effects of various
(domestic) policy measures, we expect employment and income conditions will
continue improving, and domestic demand, such as consumption and capital
investment, will lead the economic recovery."
     The recent pickup in private consumption is expected to continue, he said.
     Japan's economy for the October-December quarter posted a modest 0.1% rise
on quarter, or an annualized 0.5%, as a rebound in consumer spending and
continued solid capital investment offset weak net exports and public works
spending, Cabinet Office data showed.
     The Q4 growth came in slower than the MNI median economist forecast of
+0.2% q/q, or an annualized +0.9%. The eighth straight quarterly expansion in
GDP followed strong growth of an unrevised 0.6% growth on quarter, or an
annualized +2.2% (revised from preliminary +2.5%), in July-September.
     Motegi noted that it was the first time in 28 years that the real GDP had
marked the eighth consecutive quarterly growth, and that nominal GDP rose to a
record Y546 trillion last year.
     In calendar 2017, the economy grew a real 1.6% and a nominal 1.4%. Japan's
growth potential is estimated to be just under 1%.
     Private consumption, which accounts for about 60% of GDP, rose 0.5% on
quarter in Q4, marking the first rise in two quarter after a downwardly revised
-0.6% in Q3.
     Business investment rose 0.7% on quarter in Q4 for the fifth straight q/q
increase, with the pace of increase slowing from +1.0% in Q3.
--MNI Tokyo Bureau; tel: +81 90-4670-5309; email: max.sato@marketnews.com
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