Japan's economy avoids recession by growing in last year's final quarter, according to revised data

Japan’s economy managed to grow in the fourth quarter of last year, averting a recession, according to revised government data released Monday that had previously shown a contraction. Real gross domestic product, or GDP, grew in October-December at an annual pace of 0.4% instead of a contraction of 0.4%, according to the Cabinet Office. Real GDP is a measure of the value of a nation’s products and services. The annual rate measures what would have happened if the quarterly rate lasted a year. The revision reflects an improvement in private capital investment. It also means Japan avoided sinking into a technical recession, generally defined as two straight quarters of contraction.