(Adds detail on revised GDP)* Q4 capex +4.3 pct yr/yr, seasonally-adjusted 3.1 pctqtr/qtr* Suggests upward revision to revised Q4 GDP data out March8* Recurring profits +0.9 pct yr/yrBy Stanley WhiteTOKYO, March 1 (Reuters) - Japanese companies raised theirpace of investment in plant and equipment in October-December,suggesting the government will revise up its initial estimate ofeconomic growth for the fourth quarter.Capital expenditure in October-December rose 4.3 percentfrom the same period a year earlier, slightly faster than a 4.2percent annual expansion in July-September due to anacceleration in investment by manufacturers.Excluding software, capital expenditure climbed 3.1 percent from the previous quarter on a seasonally-adjusted basis,following a 2.1 percent quarterly increase in July-September,finance ministry data showed on Thursday.A preliminary estimate showed Japan's economy grew by anannualised 0.5 percent in October-December.That marked eight straight quarters of growth, the longestsuch run since a 12-quarter stretch between April-June 1986 andJanuary-March 1989 during Japan's economic bubble.The increase in capital expenditure suggests this figurecould be revised up, which would ease concern about the economyfollowing a weaker-than-expected reading of industrialproduction in January."The capex data points to an upward revision to grossdomestic product growth," said Yusuke Ichikawa, senior economistat Mizuho Research Institute."I expect capex to remain healthy as companies invest toexport more goods. External demand is strong, so I'm optimisticthat the economy will grow this year."Revised gross domestic product (GDP) for October-December isdue on March 8 at 0850 JST (2350 GMT March 7).In preliminary GDP data, capital expenditure rose 0.7percent, marking the fifth consecutive quarter of gains in asign of companies' willingness to invest.Many economists remain optimistic that the economy cancontinue to grow, but recent economic data paints a mixedpicture as industrial output fell more than expected in Januaryand the Purchasing Managers Index showed a slight slowdown incorporate activity. (Reporting by Stanley WhiteEditing by Joseph Radford)
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