Japan cuts GDP growth estimate.

Japan has revised down its Q4 GDP growth calculation to 0.2% from an initial 0.3%, with the economy held back by weaker-than-estimated capex and consumer spending. The current-account deficit increased to a record ¥1.59T ($15.4B) in January from ¥638.6B in December. "Capital spending remains weak and exports are not coming back to strengthen the recovery," says economist Yoshimasa Maruyama. "Without support in these areas, Japan's economy is going to contract significantly in the second quarter."