Japan’s gross domestic product was revised up to 1.0 percent on year in the third quarter of 2015, the Cabinet Office said on Tuesday.
That blew away forecasts for an increase of 0.2 percent, and it was up sharply from November’s preliminary reading that suggested a contraction of 0.8 percent.
The revision means that Japan escaped recession, since the final Q2 figure was a contraction of 0.7 percent.
On a quarterly basis, GDP expanded 0.3 percent – also beating forecasts for a flat reading. The preliminary reading called for a decline of 0.2 percent, which was unchanged from the second quarter.
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