Japan's economy expanded an annualised 2.2% in the October-December period from the previous quarter, a slower pace than initially reported, government data showed on Tuesday. The revised gross domestic product figure released by the Cabinet Office compared with economists' median forecast in a Reuters poll which matched the initial reading of a 2.

GDP growth was revised lower to 0.6% q/q below the flash estimate of 0.7% but higher than an upwardly revised 0.4% expansion in Q3, marking the third consecutive quarter of growth. Private consumption saw a slight downward revision,

The softer GDP print was driven chiefly by Q4 private consumption being revised down to flat from an initial reading showing 0.1% q-o-q growth. The print also slowed sharply from the prior quarter’s growth of 0.7%. But growth in capital expenditures was revised up slightly to 0.6% q-o-q from 0.5% q-o-q. Export growth remained steady at 0.7% q-o-q.