Japan Q1 GDP growth revised up to 1.0 per cent in Jan-Mar

TOKYO (REUTERS) - Japanese gross domestic product grew 1.0 per cent in January-March from the previous quarter, revised up from a preliminary estimate, Cabinet Office data showed on Monday, confirming an economic recovery on the back of sweeping governmentpolicies.

The reading compared with a 0.9 per cent gain forecast by economists in a Reuters poll, and the initial estimate of 0.9 per cent growth. The revision was due to an upward revision to capital spending, the data showed.

That translated into annualised growth of 4.1 per cent in price-adjusted real terms, compared with an annualised 2.4 per cent expansion in the United States and a 0.9 per cent annualised contraction in the 17-country euro zone in the same quarter.

Private capital spending fell a revised 0.3 percent in January-March from the previous quarter, less than the preliminary reading of a 0.7 percent fall.