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Japan GDP revised up but China slowdown hurts exports

Japan’s first quarter economic growth was revised up to 1.2 percent from the earlier reported 1.0 percent, reflecting upward revisions in capital spending and private consumption, data showed on Thursday.

However, Japan’s current account surplus unexpectedly fell 21.2 percent from a year earlier in April, a sign that a slowdown in China is weighing on demand for the nation’s exports and casting doubt on the strength of its economic recovery.

Economists had expected a median estimate for a 2.8 percent annual increase and followed an 8.6 percent decline in the year to March.



(Source: CNBC)