Japan’s Economy Grows Faster than Expected

Japan’s economy grew at a faster than expected pace in the first quarter, led by robust private consumption and a rebound in exports on the back of the government’s radical policies to reflate the economy.

Real gross domestic product (GDP) grew 0.9 percent, compared to a Reuters consensus of 0.7 percent. This brings GDP growth on an annualized basis to 3.5 percent, compared to 2.8 percent markets were expecting.

Private consumption, which accounts for 60 percent of the economy, rose 0.9 percent from the year ago period and at the quickest pace since July-September of last year.


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