Japanese economy growth in third quarter higher than expected
Tokyo: Japan's economy grew more than expected in the July-September quarter. Gross domestic product, the broadest measure of the economy, rose 0.5 percent in the June to September quarter up from the preceding quarter. The market had expected a 0.2 percent rise.

On an annualised basis, the economy grew 2.0 percent in July-September, twice the 1.0 percent pace the market was expecting. It was the seventh straight quarter of expansion.

That was higher than a 1.6 percent growth in the third quarter in the United States, its slowest pace in 3- years.

The date pushed up the yen and bond yields on expectations that the Bank of Japan would raise interest rates by early next year. However, the government remained cautious about an early interest rate hike.
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Growth in Asia may be affected by US slowdown: WB
Singapore: According to the World Bank East Asian economic growth will slow by about half a percentage point in 2007 as a result of significant weakening in the U.S. economy and a decline in the region's exports. Growth in East Asia excluding Japan is likely to be 7.3 percent in 2007, the slowest pace in four years, the World Bank said in a twice-yearly review. It estimated East Asian economies would expand 7.8 percent in 2006, compared with 7.5 percent in 2005 and 8 percent in 2004.

In its March review, the World Bank had forecast 2006 growth for East Asia at 6.6 percent and next year's growth at 6.3 percent. Robust exports and a decline in poverty had pushed up the growth forecasts, it said.
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