straight quarter

Japan's government says the economy shrank at an annualized rate of 3.7 percent in the first quarter.

The number of homeowners making late payments — or no payments — on their mortgages fell for the fifth straight quarter in the first three months of 2011.

But the figure remains stubbornly high compared with the pre-crisis norm, likely because of the huge backlog of homes waiting to be foreclosed.

Japan's government says the economy grew at an annualized rate of 3.9 percent in the July-Septebmer quarter.

Americans regained more of their shrunken wealth last quarter, mainly because the healing economy boosted stock portfolios. But the gain was less than in the previous two quarters.

The U.S. economy grew for a second straight quarter from October through December, posting a better-than-expected 5.7 percent annual rate, the fastest quarterly pace since 2003.

At the end of last year, the economy likely grew for the second straight quarter — possibly at the fastest pace in nearly four years.

Americans got wealthier for a second straight quarter in the fall, as the economic recovery again boosted home values and investments.

Singapore said its economy would expand as little as 3 percent in 2010, well below the high growth rates of past years because of a sluggish recovery in the U.S. and other developed countries.

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