Markets brush off Japan growth slowdown
LONDON — A larger-than-anticipated slowdown in Japan's growth rate failed to dent investor hopes Monday of more stimulus measures from the world's central banks.
Japan's economy grew by only 0.3 percent in the second quarter from the previous three-month period, half the rate that was expected. It was also sharply lower from the first quarter's upwardly revised rate of 1.3 percent and reflected the fallout from Europe's debt crisis and the sharp rise in the value of the yen, which makes it more difficult for the country's export sector to compete in the international marketplace.
The news comes on top a slew of reports out of Asia that point to the region losing momentum. Most concerns about Asia have centered on China — a raft of figures last week showed Chinese growth waning.
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