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Japan's Q1 GDP growth less than earlier estimated

Real growth in Q1 was just 1%, half the 2.2% estimate announced by Tokyo on May 18

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The Cabinet Office blamed the lower-than-estimated Q1 GDP growth on a steep drop in stocks of oil held by wholesalers - a drop caused by import cuts when oil prices started rising.

Tokyo

THE recent run of positive news on Japan's economy was interrupted on Thursday by a government announcement that the country's gross domestic product (GDP) growth in the first quarter was less than half the level originally announced, owing to inventory adjustments.

Real or

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