Latest News

Thursday, 20th May 2010
In Business In Japan,

Japanese economy continues to improve

The Japanese economy grew significantly during the first three months of this year, which has helped to settle fears of a double dip recession.

According to new figures, the gross domestic product of the nation grew by almost five per cent in the months between January and March, which is a rise on the 1.2 per cent seen in the previous quarter. This is also the most rapid growth since the second quarter of last year.

While the figures spell good news for the Japanese economy, the 4.9 per cent rise still misses the targets of many economists and analysts.

A poll carried out by the Nikkei business daily suggested that growth could stand at 5.4 per cent, reported AFP.

The recession which hit Japan recently is the worst economic slump seen in the country since the end of the second world war. High inflation is also an ongoing issue in Japan.

Written by Kimberley Homer.