Japan’s companies spent less than initially estimated in the first quarter of the year, revised data showed on Monday, suggesting the coronavirus pandemic’s hit to the economy was deeper than first thought.

Capital expenditure rose just 0.1% in January-March from the same period a year earlier, government data showed, much lower than the preliminary reading of 4.3% growth reported last month.

The weaker data, which is used to calculate revised gross domestic figures (GDP) due next Monday, signaled the world’s third-largest economy shrank at a faster pace than initially estimated in the first quarter, said, analysts.

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