Japan's Economy Grows in Q4 on Business Spending, Revising Earlier Contraction

• Japan's economy grew 0.4% annualized in Q4, revising earlier estimate of 0.4% contraction

• Growth driven by companies' higher spending on plants and equipment

• Capital expenditure rose 2.0% quarter-on-quarter, exceeding forecasts

• Private consumption fell 0.3% in Q4, worse than initial estimate of 0.2% drop

• External demand contributed 0.2 percentage points to GDP growth