Friday, September 10, 2004

Slowing . . . slowing . . .
An unexpected downward revision in Japan�s second quarter figures for gross domestic product on Friday aggravated concerns that the country�s economic recovery has started to stutter.

Gross domestic product in the three months to June expanded by 1.3 per cent on an annualised basis, according to the cabinet office, which trimmed its preliminary estimate of 1.7 per cent growth.

The figure pointed to a dramatic slowdown from growth of around 7 per cent in the previous six months.

Optimism over Japan�s economic prospects has been punctured by a recent string of downbeat data, which have revived worries that the current recovery is little different from previous export-led upturns.

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