Japan economy grew in last quarter of 2012

TOKYO (AP) — Japan's economy did better than first thought in the last quarter of 2012, eking out a slight expansion instead of shrinking in a boost for Prime Minister's Shinzo Abe's policies for ending two decades of deflationary stagnation.

Japan's Economy Shrinks Less Than Expected on Quake Rebuilding

Aug. 15 (Bloomberg) -- Japan's economy contracted less than economists estimated in the second quarter as reconstruction work limits the slump from the record earthquake and tsunami on March 11.

Gross domestic product shrank at an annualized 1.3 percent rate in the three months ended June 30, marking three consecutive quarters of declines, the Cabinet office said today in Tokyo. The median forecast of 25 economists surveyed by Bloomberg News was for a 2.5 percent drop.