Pursuits
Japan Economy Flashes Warning as Inventory Gain Holds Up GDP
- Consumer spending fell, and exports slid amid China slowdown
- Weakness raises odds of government spending package: economist
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Japan’s economy contracted last quarter less than initially estimated, thanks to a buildup in inventories that risks damping a rebound.
Gross domestic product shrank at an annualized 1.2 percent pace in the three months through June from the first quarter, less than the 1.6 percent drop reported last month, the Cabinet Office said on Tuesday in Tokyo. Economists had estimated a 1.8 percent contraction.