Japan hit by slowdown in growth as GDP up 0.3%

JAPAN suffered a much sharper-than-expected slowdown in growth in the second quarter, official figures show, highlighting the tough global economic backdrop as the UK tries to battle its way out of recession and the eurozone debt crisis rages.

Seasonally adjusted figures published yesterday by the Japanese Government showed the country achieved a 0.3% quarter-on-quarter rise in gross domestic product in the three months to June, as export growth slowed sharply to 1.2% from 3.4% in the first quarter against the backdrop of a weaker global economy and strong yen.

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