June 10, 2013 / 12:00 AM / 6 years ago

Japan Q1 GDP growth revised up to 1.0 pct qtr/qtr

TOKYO, June 10 (Reuters) - Japanese gross domestic product grew 1.0 percent in January-March from the previous quarter, revised up from a preliminary estimate, Cabinet Office data showed on Monday, confirming an economic recovery on the back of sweeping government policies.

The reading compared with a 0.9 percent gain forecast by economists in a Reuters poll, and the initial estimate of 0.9 percent growth. The revision was due to an upward revision to capital spending, the data showed.

That translated into annualised growth of 4.1 percent in price-adjusted real terms, compared with an annualised 2.4 percent expansion in the United States and a 0.9 percent annualised contraction in the 17-country euro zone in the same quarter.

Private capital spending fell a revised 0.3 percent in January-March from the previous quarter, less than the preliminary reading of a 0.7 percent fall.

For more background on the data see PREVIEW.

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