Japan economy sees second quarter of growth
Monday, 16 November 2009 12:10Japan's economy grew 1.2% in the months from July to September from the previous three months, marking a second quarterly expansion in a row, but analysts warn the recovery may lose momentum in coming quarters due to weak domestic demand.
Growth in the world's number two economy was fuelled by the continued effects of stimulus spending by governments around the world. It followed expansions in other major economies including the US and Europe, signalling the end of the worst recession in 70 years.
The increase was greater than a median market forecast of a 0.7% rise. Exports and personal consumption led the growth, while corporate investment picked up for the first time since the January-March quarter of 2008.
Japan's gross domestic product figure translated into an annualised increase of 4.8%, bigger than a 2.9% expansion expected by economists.
The US economy grew at an annualised clip of 3.5% in July-September. GDP in the euro zone rose 0.4% on the quarter, after five straight quarters of contraction.
