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Japan’s Economy Grew Less Than First Estimated in Second Quarter
Japan’s economy expanded less in the second quarter than initially reported, as growth in business investment was revised lower. Gross domestic product grew at an annualized pace of 1.3% in the three months through June from the previous quarter, revised Cabinet Office data showed Monday. That compared with a preliminary reading of 1.8%. The revised figure matched economists’ median estimate. Key Insights • Consumer spending has helped drive growth this year as exports have fallen due to a slowing global economy and the U.S.-China trade war. Private spending is expected to continue to increase through the third ... (full story)