The Japanese government said the economy slowed in the October to December period more than it had originally anticipated, revising its assessment of gross domestic product growth to an annualized 3.5 percent from a preliminary estimate of 3.7 percent.

The on-quarter growth rate unchanged at 0.9 percent for the October to December period, the Cabinet Office according to a statement published on its Web site Wednesday.

Analysts had expected annualized growth in the quarter of 2.3 percent. Most of the downward revision came from weaker capital spending, which was revised to 2 percent growth on quarter from a preliminary estimate of a 2.9 percent increase.