Japan’s economy slows, missing growth forecasts | Business and Economy– www.aljazeera.com
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EXCERPT:
Japan’s economy has slowed in the second quarter of the year amid moribund consumption and capital spending, according to official figures.
Gross domestic product (GDP) grew 0.3 percent in the April-June period from the first quarter, data released by Japan’s Cabinet Office on Monday showed. It was the third consecutive expansion but was down from 0.5 percent growth in the previous quarter and missed the 0.5 percent growth analysts had forecast.
On an annualised basis, the world’s fourth-largest economy expanded 1.1 percent.
A survey of 37 economists conducted by the Japan Center for Economic Research, a think tank, had forecast an annualised expansion of 1.67 percent.
Private consumption was flat in real terms while capital expenditures fell 1.2 percent, or 4.6 percent on an annualised basis, offsetting strong exports, according to the data.
