News > Japan's Economy Grows 3.7% in 2nd Quarter

Japan's Economy Grows 3.7% in 2nd Quarter

posted on 7:17 AM, August 19, 2009

2009 - On August 17, the Cabinet Office of the Government of Japan announced that Japan’s GDP grew 0.9% in real terms during the April-June quarter in 2009, compared to the previous quarter. This translates into an annualized growth rate of 3.7% and is the first time Japan has seen positive growth in 15 months.

Exports and industrial output are picking up while private consumption has been showing indications of recovering recently. Corporate profits and capital spending have declined very substantially and employment conditions are worsening rapidly. 

Minister of State for Economic and Fiscal Policy, Yoshimasa Hayashi said in a news conference that the country's April-June GDP data showed that the effects of government stimulus measures were appearing in private consumption and public investment. As for the economic outlook, he said that conditions are still severe but Japan's economy is expected to improve.

Source:  The Embassy of Japan

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