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The Japanese economy grew much faster than expected between April and June, for a third consecutive quarter, as strong household consumption and corporate investment overshadowed the export shock due to weak global demand.
Preliminary data from the Japanese Prime Minister's office showed Friday that gross domestic product grew by 1.8 percent year-on-year in the second quarter, far outstripping the median market forecast, up 0.4 percent, and after growing 2.8% between January and March. March.
A government official said private consumption, which accounts for about 60 percent of the economy, rose 0.6 percent from January to March, recording its third consecutive quarter of growth. (Reuters)
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