P.M. BRIEFING : Japan Relieved as Growth Cools
The Japanese government said today its economic growth slowed in the third quarter of 1990 to an annual rate of 4.1%, but officials and analysts said the change was welcome relief from inflationary pressures.
The gross national product had expanded at an inflation-adjusted, annualized rate of 5.5% in the second quarter, the Economic Planning Agency said.
“It is a good thing for the economy . . . we have had growth of 5% or more for three years now,” said Robert Alan Feldman, an economist with Salomon Brothers Asia, adding that continued strong growth may have led to inflation.
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