Japan's economy posts strongest growth since 2007 | The Daily Star
11:00 PM, November 16, 2009 / LAST MODIFIED: 11:00 PM, November 16, 2009

International Business News

Japan's economy posts strongest growth since 2007

Japan's economy grew at its strongest pace in more than two years in the latest quarter, smashing market forecasts and extending a recovery from the worst downturn in decades, data showed Monday.
The world's second largest economy posted a second straight quarter of positive growth as it emerges from a severe year-long recession on the back of rebounding exports and the government's massive stimulus spending.
The economy expanded 1.2 percent in July-September from the previous quarter -- 4.8 percent on an annualised basis, the government reported. It was the best performance since January-March 2007 and about twice as fast as expected.
"Positive growth will continue in the fourth quarter," said RBS Securities economist Junko Nishioka.
"As long as fiscal stimulus effects continue and overseas demand remains stable, we think the likelihood of a double-dip in the economy is low.”

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