Japan’s Quarterly Growth Smaller than Expected

Japan’s economy logged a third quarter of growth in the three months ending June, but the increase was much smaller than expected.

The economy grew 2.6 percent on an annualized basis in the April to June quarter, lower than 3.6 percent growth forecast according to Reuters and follows the 4.1 percent growth in the first quarter, government data showed on Monday.

Quarter on quarter growth came in at 0.6 percent, versus expectations of 0.9 percent and compared to the 1 percent figure logged in the first quarter.

The weaker-than-expected growth data sent dollar-yen lower, with the currency pair slipping below 96 at one point.


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