Japan revises growth forecast negatively

The Japanese economy was revised negatively in the last quarter of 2022 with final data. According to data released by the Japanese Cabinet Office, GDP did not change in the previous quarter. Market expectations were that the period, which was estimated to be 0.2 percent with leading data, would increase at the same level. In the same period, the annual increase was revised from 0.6 percent to 0.1 percent. Markets had predicted a 0.6 percent increase. Nominal GDP was revised from 1.3 percent to 1.2 percent, while domestic demand was reduced from 0.2 percent to 0.3 percent. Foreign demand increased from 0.3 percent to 0.4 percent. Household spending was revised from 0.5 percent to 0.3 percent.