Japan's economy grew at an annual rate of 3.7% in the fourth quarter, the government said. The main driver for growth during the October-December period was a jump in corporate capital investment, which rose 2.9% from the previous quarter.
Compared to the previous quarter, GDP rose 0.9%. That was better than the 0.3% gain—or 1.4% annualized growth—forecast by economists surveyed by Dow Jones NewswiresHousehold spending rose a stronger-than-expected 2.2% from the same period the previous year, but retail sales inched up just 0.2%. The jobless rate was flat at 3.8%, while industrial production rose 1.4% from November and is expected to decline in January and February. (AP)