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"Every sector is working and growing somewhat, but not up to potential"
- Martin Schulz, a senior economist at Fujitsu Research Institute
Japan's gross domestic product rose less than expected in the third quarter 2011, said the Cabinet Office on Friday. Specifically, economy grew moderate 1.4 percent amid sluggish global economic recovery and strong yen.
"Every sector is working and growing somewhat, but not up to potential," said Martin Schulz, a senior economist at Fujitsu Research Institute in Tokyo. Sluggish housing market and exports "point to a much slower year next year," he said.
Next year "the only safe bet is that reconstruction will provide support, and the hope is that the U.S. and Chinese economies can remain resilient," said Cameron Umetsu, senior economist at UBS Securities Japan Ltd. in Tokyo.