China overtakes Japan in Q2

Cooling exports and flat domestic consumption hit Japan's growth over the period. On a quarterly basis, growth was at 0.1%, down from a revised 1.1% in the previous quarter. The disappointing data could point to the looming prospect of China overtaking Japan as the world's second-largest economy over the longer term, reports the Telegraph. Japan slipped behind its Asian rival in the second quarter on nominal terms, government data showed, while remaining just ahead of China in the first half. Real gross domestic product in Japan grew by an annualised 0.4% in the quarter, down from ...