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Japan's economic growth less than expected

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.

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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.

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