In Q1 2010, the Japanese economy grew at a quarterly rate of 1.2% the government said on Thursday. The four straight quarters of growth now bolster assertions that Japan’s recovery is holding firm.
Their annualized growth rate of 4.9% was released by the Japanese Cabinet Office and accelerated from 3% for the Japanese economy’s fourth quarter of 2009.
Much like the U.S. economy, Japan's private consumption makes up about 60 percent of the economy, but exports also play a key role in the healthy growth rates. Recovery in Japan has been assisted by a rebound in mainstay exports of cars and electronics, which both posted the fourth year-on-year rise in March. The report confirms that the continued strength is lifting domestic production and wages in the country.
Saturday, May 22, 2010
Japan's Growth Up 4 Straight Quarters - GDP now at 4.9%
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Any words of encouragement for those of us who are concerned that this mess in Europe is going to cause another world recession?
ReplyDeleteBill,
ReplyDeleteThe good news about Europe is that the bad news is grossly overdone and now largely behind us.
Will their still be uncertainty and volitity in the stock market? Sure. Will it lead to US economic (or even world) recession? Surely Not.
The close to 1T in assistance promised by world leaders will have massive stimulus effect on the european economies... that of course will take time to be felt, but in the short term (weeks), I'd expect stabilization...
Domestically all indications continue to point to positive momentum for the US economy. It will be particularly interesting to watch the net jobs growth numbers continue to accerate at a growth rate never seen in my lifetime... given the trend line that we have been tracking here since April of 2009. Provided that keeps trending positively, I see almost zero risk for a downturn domesticly anytime soon... and fundamentally leaves almost no where to point for US economic doom.
Thanks once again for your words of wisdom!
ReplyDelete