Monday, 9th September 2013
In Business In Japan,
Japan's economy growing faster than first thought
Japan's economy looks to be making a strong recovery from the global downturn, with the latest data showing the country's GDP expanded by even more than first thought in the most recent quarter.
Between April and June this year, Japan's GDP grew by 0.9 per cent, after being revised upwards from an initial estimate of 0.6 per cent, data from the country's Cabinet Office revealed.
The growth translates into an annual expansion rate of 3.8 per cent.
Japan has undertaken a number of aggressive measures to stimulate the economy.
This has encouraged businesses to step up spending on investments, which has had a knock-on effect on the rest of the economy, Martin Schulz of Fujitsu Research Institute told the BBC.
"The moves by Japanese policymakers have fuelled optimism of a recovery, which has seen companies start to invest more," he said.
"That is trickling down into the labour market and the real economy. The affect of that is now starting to show in the numbers."
Written by Andy Mackay