Japan Is Out Of Recession

According to Spanish Elmundo the Gross Domestic Product (GDP) of Japan grew in the second quarter by 3.7% on an annual basis. This, remarkably, puts an end to five quarters of economic decline, according to the Japanese Government.

Between April and June, first quarter of the Japanese fiscal year, the Japanese GDP grew by 0.9% over the previous three months, bringing the second world economy takes a path of growth.

Washington Post reports that it's the stimulus and the exports that pulled Japanese economy out of recession. Last week we already heard some good news from Australia, where the consumer confidence rose to two years high and from Europe.

According to Reuters report from Tokyo "The growth in the world's No.2 economy provided further evidence that the worst of the damage wrought by a global financial crisis may be over, but analysts and policy-makers are wary about the outlook, which depends on a recovery in world demand."

Written by Armen Hareyan