The Japanese economy came in the second quarter of 2009 of a recession that lasted a year, according to official information filed yesterday, with an annual growth rate of 3.7 percent that was to join Germany, France and other countries.
Although the figures sounded encouraged after the country’s worst recession, economists and politicians lucieron cautious and stressed that the main engine of growth were exports, and Japanese consumer spending remained weak.
The recovery in the quarter April to June, due to a strong demand for automobiles, VCRs and other electronics, according to government data.
Exports rose 6.3 percent, compared with the previous quarter.
Economists agree, however, that the nascent recovery may lose strength rapidly as domestic demand remains weak. Wages fall and the unemployment rate has risen.
July 21st, 2010 at 3:13 pm
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