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News Summary: Japan economy grew in last quarter

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The Associated Press | March 8, 2013 01:19 PM EST | AP


RISING SOME: Japan's economy did better than first thought in the last quarter of 2012, eking out a slight expansion instead of shrinking.

SAYONARA RECESSION? The government upgraded its annualized growth figure for the fourth quarter to 0.2 percent, suggesting the world's No. 3 economy is emerging from recession.

YEN FOR GROWTH: A sharp weakening in Japan's currency in recent months is seen as a boost for the country's export manufacturers – especially big names like Toyota Motor Corp. and Sony Corp., but it also has raised costs for imports of fuel and other commodities.