Japan's economy grew at a faster pace than initially estimated in the January-March quarter, expanding at a 3.9 percent annual rate on stronger consumer and corporate spending.
The revision announced Monday by the Cabinet Office was sharply higher than the 2.4 percent pace initially reported. On a quarterly basis, the economy grew 1 percent, compared with the initial estimate of a 0.6 percent increase.
Strong private demand in residential and corporate spending helped push growth higher, with corporate investment revised to a 2.7 percent quarterly increase, from the 0.4 percent preliminary estimate.
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