Japan Revises Q4 Nominal Gdp Slightly up After Calculation Errors
Japan's Cabinet Office revised nominal gross domestic product, exports, imports and the deflator for the fourth quarter of last year after discovering errors in the way it adjusted the exports and imports for seasonal factors.
The Cabinet Office issued the revisions after Yoshiki Shinke, chief economist at Dai-Ichi Life Research Institute, published a report on Tuesday saying the data may have been incorrect, according to a government official.
The revisions do not change real GDP, exports or imports for the October-December period last year or other past data, the Cabinet Office said in a statement.
Still, the revisions were due to incorrect spreadsheet entries, the government official said. This could cast doubt on the reliability of the Cabinet Office, which also publishes closely-watched data on capital expenditure and consumer sentiment.
The Cabinet Office corrected nominal seasonally adjusted exports to show they fell 1.7 percent in the fourth quarter from the previous quarter, more than a 0.3 percent decline previously reported.
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