Japan's Jan.-March GDP growth revised up to 2.7% on capital spending

Japan's economy grew an annualized real 2.7 percent in the January-March quarter, much faster than previously reported, with an upward revision to spending by companies providing fresh evidence of a recovery in domestic demand, government data showed Thursday.The world's third-largest economy was initially reported to have expanded 1.6 percent. With the October-December gross domestic product data also upgraded, it was confirmed that the economy had escaped a recession.GDP, the total value of goods and services produced in a country, expanded 0.7 percent in January-March from the previous q…READ FULL ARTICLE