Economic growth of Japan revised down

<p>Japan’s economic growth has been revised down.</p>

Slowing private investment has led to Japanese economic growth for the third quarter of the year being revised down.

The government had initially stated that the economy had expanded by 0.5 per cent between July and September, but now says the growth was just 0.3 per cent.

Yasuo Yamamoto, senior economist at Mizuho Research Institute in Tokyo, explained that there are positive signs growth could accelerate again in the fourth quarter of 2013.

"There are already signs that exports and capital expenditure are recovering, so I am not pessimistic about the outlook," he said.

Latest data on the Japanese economy show it is growing at an annualised growth rate of 1.1 per cent, which is down from the initial reading of 1.9 per cent.

Japanese consumer inflation recently accelerated to a five-year high in data, while the Nikkei rose by 2.3 per cent in trading today to cancel out the 2.3 per cent loss last week.

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