Japan GDP Falls Back to Earth

The pace of economic growth has slowed in Japan, casting doubt over the country’s ambitious stimulus plan and a planned tax hike.

Japan’s economy grew at an annual rate of 2.6% in the second quarter of 2013, the Cabinet Office said Monday. The expansion was slower than the 3.6% increase expected by analysts.

The government also said growth in the first quarter was at a lower rate than previously reported, with GDP at 3.8% instead of 4.1%.

Japan’s benchmark Nikkei index dropped more than 1% on the news.


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