1st LD Writethru: Japan revises GDP growth to annual minus 1.1 percent in Q4 2015

The Japanese government on Tuesday revised the world's third largest economy's growth to an annualized 1.1-percent decline in the last quarter of 2015 from a reading of a minus 1.4 percent released last month in a preliminary report.

The economy statistics in real gross domestic product, in inflation-adjusted bases, corresponded to a 0.3 percent fall from the previous quarter, said the Cabinet Office.

The government said in the preliminary report that weak private consumption, which accounts for about 60 percent of the country's GDP is the main factor that dragged down the country's economy.

In the revised data, private consumption declined 0.9 percent in the reporting quarter from July-September period in 2015, downgraded from a 0.8-percent decline in the previous report.

Corporate capital spending revised upward to 1.5 percent rise from a 1.4 percent reading, while exports revised to a minus 0.8 percent growth from a 0.9 percent fall in the previous report. Endit