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Economy

Japan's GDP to grow as shoppers stock up ahead of Oct. tax hike

Sales of toilet paper and detergent already hint of consumers taking cover

Consumers are stocking up on toilet paper, detergent and other household items ahead of a consumption tax hike in October.

TOKYO -- After posting a faster-than-expected growth in the April-June quarter, the Japanese economy will continue to sail through July-September, private-sector economists predict, but an October consumption tax hike looks likely to snap the four-consecutive quarters of expansion.

The economy grew a seasonally adjusted 0.4% in the second quarter, according to preliminary reports released by the Cabinet Office on Friday. The figure translates to annualized 1.8% growth.

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