TOKYO - "Japan's economy is back, and with a vengeance. This was a pretty fantastic year," opined CSFB economist Stefan Worrall.
He and other analysts were cheering Friday's news that the nation's economic revival had gained steam, stoked by rising consumer spending and robust exports, particularly to neighboring China.
According to the Japanese Cabinet Office, the three months ended December 31 lifted the nation's growth rate in calendar 2005 to 2.8%. It said the economy is on track to beat the government's estimate of 2.7% for the current fiscal year, which ends March 31.