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News Summary: Japan’s economy slows

By The Associated Press
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CONSUMER PULLBACK: Japan’s economy grew at a slower-than-expected annualized rate of 1.4 percent in April-June, as consumer spending flagged following a rebound from last year’s earthquake and tsunami disasters.

EXPORTS PINCHED: Feeble demand hit Japan’s export sector, which has been undercut by protracted crisis in Europe.

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