Japan Exits Recession
Posted on Aug 17, 2009
The world’s second-largest economy is back in the black. Japan’s economic growth is positive for the first time in over a year, beating expectations. The good news comes as the economies of Germany and France are also growing and China is in full boom. Kanpai!
And now for the obligatory reality check: This global meltdown is by no means over and we could still be looking at more of a W than a V, besides which wages, consumer spending and joblessness aren’t doing so well, globally. —PS
Japan has emerged from its worst recession since the end of the second world war, recording its first quarter of growth for more than a year amid a rise in exports.
Japan’s fledgling recovery, which comes after similarly upbeat data emerged from other major economies last week, saw GDP rise at an annualised rate of 3.7% in the April-June period, and by 0.9% from the previous three months, the cabinet office said.
Flickr / Michell Zappa