Japan's growth seen slowing in second quarter
Afp, Tokyo
Japanese economic growth is expected to have slowed sharply in the second quarter of 2007, hit by slowing exports to the United States, analysts predict. Still, the world's second-largest economy probably managed to grow for a 10th straight quarter as consumer spending and capital investment -- the main domestic growth engines -- remained relatively firm, they added. The government is expected to report Monday that Japan's gross domestic product grew by 0.3 percent in the second quarter for an annualised rate of 1.0 percent, according to the average forecasts of 10 economists. That would be sharply slower than the annualised rate of 5.4 percent in the final quarter of 2006 and 3.3 percent in the first quarter of 2007.
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