Japan economic growth disappoints

MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- Japan s economy grew a seasonally adjusted 0.3% in October-December, unchanged from the growth rate in the previous quarter, Cabinet Office data released Monday showed. The result trailed a Reuters forecast for 0.7% growth and remained significantly slower than the 1.2% and 1% growth seen in the first and second quarters of 2013, respectively. On an annualized rate, gross domestic product rose 1%, missing expectations for a 2.8% gain. Private non-residential investment improved to 1.3% growth from 0.2% the prior quarter, while public investment slowed to 2.3% from 7.2%. The yen rose following the data, with the dollar slipping to ¥101.57 from ¥101.75 before the data release, while Nikkei Average futures cut their gain to 0.1% after trading 0.8% higher ahead of the numbers.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.