• Kyodo

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The economy expanded at a slower pace than initially estimated in the third quarter, sparking concern that “Abenomics” is failing to help the nascent recovery gain momentum, the government said Monday.

The downgrade means the world’s third-biggest economy grew at an annualized rate of just 1.1 percent in inflation-adjusted terms instead of a real 1.9 percent listed in the preliminary data, the government said. In the background was a downward revision to capital spending,

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