Thursday, March 02, 2006

Signs of economic life

More good news about the Japanese economy:

If the latest figures are to be believed, then last year, Japan (yes, Japan) grew faster, at 2.8%, than any G7 economy except America. And as of the final quarter of the year, it was growing faster than America as well, clocking up a 4.2% growth rate, year-on-year.

But there are still "dark spots in this picture":

One is fairly soft import growth for such a purportedly robust recovery. ... A second, more worrying, blot, is that for all that the labour market has tightened over the past year, employment growth, at an annualised 0.5%, is still too sluggish.

—Mellow Monk


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