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Monday, 15th February 2010
In Business In Japan,

Japan still world's second largest economy

Japan is still the globe's second largest economy, new figures have shown.

Fourth quarter figures show that the nation beat market analyst predictions for economic growth and that the country's gross domestic product grew at an annual level of 4.6 per cent between October and December.

This growth sees the country just beat China's growth and retain its title as the second biggest economy in the world.

Japan's growth in the past year has been spurred by government initiatives to encourage green investment and the production of eco-friendly cars.

However, recent safety scandals involving the world's biggest car maker, Toyota, have seen shares in the company fall and fears over whether the brand can still be regarded as one of the world's most trusted and safest producers of motors.

Following its exit from its worst recession since the end of the second world war, Japan is still struggling with inflation levels and a strong yen.

Written by Kimberley Homer.