Japan’s surprisingly sharp rebound in GDP shows how resilient its economy can be despite years of growth which has been hobbled by a sort of stagflation, and more recently, the value of the yen. GDP rose at an annualized rate of 4.1% in the first quarter.
Almost 40% of the improvement was because of government expenditures to re-build parts of Japan after the horrible earthquake a year and a half ago.. But, even the speed with which the government turned on stimulus to fuel this is impressive. The Japanese consumer was also active in the period. Sales of cars and other consumer goods were strong.
The earthquake may have shattered a large part of the economy, but consumers, in many cases, have put that behind them, at least as far as their spending habits are concerned.
Douglas A. McIntyre
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