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Reconstruction Boosts Japan’s Economy
Japan's gross domestic product expanded at a 4.1% annualized rate in the first three months of 2012 compared with the final quarter of 2011, according to the country's Cabinet Office.
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Japan's gross domestic product expanded at a 4.1% annualized rate in the first three months of 2012 compared with the final quarter of 2011, according to the country's Cabinet Office.
The Japanese economy was buoyed by consumer spending and public investment to rebuild infrastructure damaged in the country's earthquake and tsunami in March 2011.
Japan's growth may slow later this year because of Europe's ongoing financial crisis and China's slowing economic expansion, according to economists. They predict Japanese GDP will advance 2.2% in the second and third quarters this year and eke out only a 1.7% increase in the October-December period.
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