Japan’s economy growing but slower, quarterly data show
The Japanese economy grew at a slower pace in the April-June quarter, not the surprisingly strong spurt indicated by an earlier estimate, according to revised government data Friday, although signs of a revival are holding up.
The Cabinet Office said the gross domestic product or GDP — the total value of a nation’s goods and services — grew at an annualized rate of 2.5 percent. That second preliminary reading is a dramatic adjustment from the first preliminary reading, released last month, of 4.0 percent growth.
Private sector investment for the quarter was lowered in the latest data from 2.4 percent to 0.5 percent.
Although less upbeat than the earlier numbers, data show the growth continues to hold up, shedding the doldrums of the decades of slowdown that dragged on the nation after the “bubble” economy burst in the 1990s.
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