facebook
twitter
rss
account
search
search
 

Japan's economic growth less than expected

Sept. 10, 2012 at 1:31 AM   |   Comments

TOKYO, Sept. 10 (UPI) -- Japan's economy in the latest quarter grew 0.2 percent from the previous quarter, or slower than the 0.3 percent estimated earlier, the government said Monday.

The revised figure for the April-June period, blamed on slow capital spending by companies, reflected an annual growth rate of 0.7 percent, and not 1.4 percent as estimated earlier, Kyodo News reported.

The new figure, which also reflected a fall in inventories, nonetheless was the fourth straight quarter of expansion. However, it was much smaller than the 1.3 percent growth in the January-March quarter.

Japan's export-dependent economy, the world's third-largest after the United States and China, has been hurt by the eurozone crisis and the global slowdown as well as a higher yen, which makes its goods more expensive overseas.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
New Navy sub ready for outfitting, testing New Navy sub ready for outfitting, testing
2
New F-35 sustainment system undergoing flight testing New F-35 sustainment system undergoing flight testing
3
Scrap South Stream, Europe says Scrap South Stream, Europe says
4
Apple to authorities: No iPhone user data, even with a warrant Apple to authorities: No iPhone user data, even with a warrant
5
Boeing, Defense Logistics Agency sign long-term support agreement Boeing, Defense Logistics Agency sign long-term support agreement
Trending News
Video
x
Feedback