Japan Slows Less Than Estimated, Deflation Persists
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Japan’s economy slowed less than initially estimated in the second quarter as companies boosted capital spending, indicating the nation’s recovery was intact before a surge in the yen threatened to stunt export gains.
Gross domestic product grew an annualized 1.5 percent, faster than the 0.4 percent reported last month, after the first quarter’s 5 percent, the Cabinet Office said today in Tokyo. Unadjusted for changes in prices, GDP shrank 2.5 percent.