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Japan's GDP grows 2.4 percent in Q1
(MENAFN) Data showed that Japan's economy is recovering stronger than expected, driven by household and business spending and a pickup in inventories, Xinhua reported.
Gross domestic product (GDP) expanded by 2.4 percent annually in the first-quarter period, much stronger than a revised 1.1 percent growth recorded in the previous quarter.
The figures offer support for the government and the Bank of Japan's view that the economy is on its way to recovery, as corporate profits recover and companies have promised to pay workers more.
The latest data shows an acceleration in the economy's recovery from that slump as consumption finally starts to pick up. Household spending rose 0.4 percent on quarter.
Gross domestic product (GDP) expanded by 2.4 percent annually in the first-quarter period, much stronger than a revised 1.1 percent growth recorded in the previous quarter.
The figures offer support for the government and the Bank of Japan's view that the economy is on its way to recovery, as corporate profits recover and companies have promised to pay workers more.
The latest data shows an acceleration in the economy's recovery from that slump as consumption finally starts to pick up. Household spending rose 0.4 percent on quarter.
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