Japan Oct.-Dec. GDP growth cut to annualized 0.1% on slower consumption

Japan's economy expanded an annualized real 0.1 percent in October to December, downgraded from an increase of 0.6 percent reported earlier, the Cabinet Office said Thursday, as private consumption growth was slower than initially thought.Real gross domestic product growth, adjusted for inflation, stood at 0.02 percent on a quarterly basis, revised down from 0.2 percent. GDP is the total value of goods and services produced in a country.The world's third-largest economy rebounded from an unexpected contraction in July-September but lacked momentum.Accelerating inflation has been hurting hou…READ FULL ARTICLE