Japan economy contraction not as bad as feared

Japan's economy contracted for a third straight quarter as consumer spending and factory production continued to suffer in the aftermath of the March earthquake and tsunami.

Japan economy contraction not as bad as feared

Japan's economy contracted for a third straight quarter as consumer spending and factory production continued to suffer in the aftermath of the March earthquake and tsunami.

Real gross domestic product - a measure of the value of all goods and services produced domestically - contracted at an annualised rate of 1.3% in the April-June quarter, the Cabinet Office said today.

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