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

The Guardian:

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.

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