Japan economy grows twice as fast as expected in Q3

Tokyo

JAPAN'S economy grew more quickly than expected in the third quarter of this year, expanding at an annualised rate of 2.2 per cent, compared with the preceeding three months.

The average market forecast had been for it to grow by under one per cent.

Cabinet Office sources said exports rose by 2.0 per cent in the third quarter, aided by robust shipments to Asia, with shipments of smartphone parts and steel showing strength. There had been a 1.5 per cent fall in the April-to-June period.

Third-quarter imports fell 0.6 per cent, the source…