• Kyodo

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Economic growth was revised upward to an annualized real 2.2 percent in the January-March period thanks to an upswing in capital expenditure in the nonmanufacturing sector, government data showed Monday, though analysts continued to emphasize the risk of a downturn due to sluggish personal consumption.

The data released by the Cabinet Office, revising growth up from the preliminary estimate of a 2.1 percent expansion, did not change analysts’ view that the rise in GDP was due to a technical factor, with imports declining faster than exports and consequently pushing up real GDP.

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