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by ForexNewsNow Team on August 15, 2010

GDP data: Japan economic growth slows unexpectedly

NEW YORK (Forex News Now) – Japan’s economy grew in the second quarter at a slower pace than forecast, official data showed late Sunday in one of the day’s spotlight FX news events.

The Japanese Cabinet Office said in a report that the country’s gross domestic product, the broadest measure of economic activity, grew 0.1 percent quarter-on-quarter, after downwardly revised growth of 1.1 percent in the first quarter.

Analysts had expected growth of 0.6 percent in the second quarter, two major forex news outlets reported.

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