Japan upgrades Q4 GDP to annualised 1.3% expansion

TOKYO, March 10 (Reuters) - Japan's economy grew faster than initially estimated in the October-December period from the previous quarter, revised gross domestic product (GDP) data showed on Tuesday.

The revised figure released by the Cabinet Office showed the economy expanded an annualised 1.3% in the fourth quarter, compared with the initially estimated 0.2%. Economists' median forecast was for a 1.2% growth.

Without annualisation, GDP grew 0.3%, matching the median forecast for a 0.3% expansion and compared with the initial estimate of a 0.1% rise.

Private consumption, which accounts for more than half of Japan's economy, increased 0.3%, versus a 0.1% uptick in the preliminary data.

Businesses' capital expenditure rose 1.3% in the fourth quarter, revised up from the initial estimate for a 0.2% rise and compared with an estimated 1.1% uptick.

External demand, or exports minus imports, was unchanged from the preliminary data of no contribution to GDP. Domestic demand contributed 0.3 percentage point, revised up from zero contribution.