Tuesday, 16 February 2010

Japanese economy grows 1.1 percent in fourth quarter

Japan's economic recovery remained intact at the end of 2009. BBC reports:

Japan's economy grew by a better-than-expected 1.1% in the final quarter of last year, according to official figures...

Consumer spending, which accounts for about 60% of the Japanese economy, rose 0.7% from the previous quarter as shoppers took advantage of government incentives on cars and home appliances. However, consumer spending remains weak in general.

Corporate capital spending rose by 1% in the quarter, seeing the first expansion since the three months to March 2008.

Public investment fell 1.6%, while exports jumped 5%.

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