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Japan to top G7 GDP, says OECD

Japan’s economy is expected to expand an annualised real 3.4 percent in the first quarter of 2012 on robust production and a weaker yen to log the strongest growth in the Group of Seven industrialised economies, the Organisation for Economic Cooperation and Development (OECD) said on Thursday.

The gross domestic product figure, revealed in an interim report by the Paris-based club of rich nations, represents an upward revision from its November forecast of 1.8 percent growth. As for the second quarter, the OECD said Japan’s inflation-adjusted GDP would grow 1.4 percent from the previous quarter, reducing its previous projection of a 1.8 percent expansion.