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Capital spending delays took toll on July-September GDP

TOKYO -- Weak capital investment led Japan's economy to shrink by an annualized 0.8% in the three months ended September, with companies holding out for sunnier skies as the outlook for China's economy grew darker.

     This marked the second straight quarter-on-quarter contraction in gross domestic product following a 0.7% slide in April-June, the Cabinet Office revealed Monday. A 1.3% drop in capital investment was the main cause of the decline. Corporations had planned to invest a good deal this fiscal year, though the follow-through has been lacking.

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