Japan’s economy has posted its highest growth figures for two years, moving out of recession in the first quarter and even outperforming the US.
Japanese GDP rose 1.4% between January and March 2002, jumping 5.7% year-on-year. The expansion was attributed to increased demand in America – a vital export market – as well a rise in domestic expenditure. Electronics and cars performed particularly strongly.
However, analysts remain unconvinced that Japan’s troubles are behind it, as both domestic and export demand are not expected to maintain their expansion. GDP growth for the rest of the year is forecast to be lower than in Q1.
Data sourced from: BBC Online Business News (UK); additional content by WARC staff