Submission + - Japan Economy Growth Rate Jumps To 1.7% (ft.com)
jones_supa writes: In a refreshing turn, Japan's economy grew at an annualized rate of 1.7% in the first quarter of 2016, easily beating expectations of a 0.3% rise. Rising Gross Domestic Product reverses a contraction in the fourth quarter of 2015 and means Japan has avoided another technical recession, defined as two consecutive quarters of negative growth. The faster than expected pace of growth suggests the Japanese economy is managing to shake off the effects of a slowdown in China and a stronger yen — at least for now — with domestic demand having more momentum than previously thought. Robust growth data are likely to mean a smaller fiscal stimulus by the government of Prime Minister Shinzo Abe, which was poised to act if the data had been bad.