Japan economy grows 1.3% in Oct.-Dec., revised up, on stronger investment

TOKYO - Japan's economy expanded an annualized real 1.3 percent in the October-December quarter, revised up from an initially reported 0.2 percent increase, on stronger business spending as Prime Minister Sanae Takaichi pushes investment in priority areas, government data showed Tuesday.

Helped also by an uptick in private consumption, accounting for over half of gross domestic product, the GDP data marked the first rise in two quarters. Yet, crude oil price rises due to a Middle East conflict overshadow the economic outlook for resource-poor Japan, economists say.