Japan’s economy grew at an annualised rate of 1.7 per cent in the first quarter of 2016, easily beating expectations of a 0.3 per cent rise, in a big boost to the country’s beleaguered policymakers.
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.
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