Japan's fourth quarter growth revised up to 0.5%

TOKYO: Japan's economy grew faster than initially thought in the October-December quarter, due partly to strong corporate investment, official figures showed Friday .

Japan's household spending in January edged up 2.0 per cent, beating a market expectation of a 0.5 per cent decline, a separate survey by the internal affairs ministry said. The Friday data suggest a mild turnaround after eight consecutive quarters of growth ended in January-March last year, interrupting a winning streak not seen since the heady days of Japan's"miracle" boom of the 1980s.However, the cabinet office on Thursday revised down its judgement on the economy as a leading business confidence index declined in January for the third straight month.

Analysts have also warned that US-led trade wars could be a major risk factor for an economy still struggling to win a long battle against deflation.

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