Japan avoids a technical recession as economic growth estimates are amended.

The revised numbers reveal that gross domestic product (GDP) was 0.4% higher in the last three months of 2023 than a year ago.

According to preliminary data released last month, the economy contracted for the second quarter running.

A technical recession is often defined as an economy that has contracted for two quarters in a row.

However, the updated statistics fell short of forecasts, with some economists expecting an upward adjustment to fourth-quarter GDP of approximately 1%.

Hopes that the country had avoided a recession were reinforced last week when the Ministry of Finance reported a substantial increase in the amount corporations invested in their enterprises.