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Japan’s economy expanded by 1.2 per cent during the first three months of the year, for an annual pace of growth of 4.7 per cent, new data out of the country’s Cabinet Office shows.The 1.2 per cent expansion was 20 basis points greater than a preliminary reading from the Cabinet, and above forecasts for a 1.1 per cent growth.
The bump in growth was attributed to gains in private demand and a pick up in the country’s auto market.
Nonetheless, Japan’s Nikkei is trading off 1.4 per cent.
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