Japan Exits Recession
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
WAIT, BEFORE YOU GO…
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.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.