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Japan's economy beats forecasts



16 May 2008 @ 12:10 am EST

New data suggests that Japan's economy expanded at a faster than expected rate in the first quarter of this year.

The country's GDP grew 0.8 percent between January and March, or 3.3 percent annualized, marking the third straight quarterly expansion.

Economists had expected the economy to grow 0.7 percent for the quarter, according to a poll conducted by Dow Jones Newswires

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