Japan finds April-June growth slower than thought
TOKYO (AP) — The Japanese economy grew at a slower pace than earlier estimated for the April-June quarter. The Cabinet Office said Monday the world's third-biggest economy grew at an annual 0.7 percent, slower than the 1.4 percent given in August.
The government said the lower gross domestic product estimate reflected weaker consumer spending and public investment than earlier indicated.
Japan has been recovering gradually from the damage of the tsunami, earthquake and nuclear disasters of last March that sent manufacturing, exports and consumer spending plunging.
But worries about a slowdown in Europe, as well as signs growth in China may also be losing momentum are fueling concerns about a continued Japanese recovery.
On a quarterly basis, Japan's economy grew 0.2 percent, down from an earlier estimate of 0.3 percent.