By Martin Gøttske
The Japanese economy has posted its longest expansion in a decade, government data showed May 18. The world’s 3rd largest economy grew 0.5 per cent in the first quarter from the previous three months – or 2.2 per cent year-on-year.
That was the 5th straight rise.
This is viewed as a win for Prime Minister Shinzo Abe’s bid to reignite the slumbering Japanese economy, even though its battle to conquer deflation is still far from won. Japan’s economic outlook has improved due to strong exports. Investments linked to the Tokyo 2020 Olympics are also seen as a boon for the economy.
The Straits Times: