Japan's economy running at 5.5%
Thursday, February 16, 2006; Posted: 7:57 p.m. EST (00:57 GMT)
TOKYO, Japan (AP) -- Japan's economy grew at an annual pace of 5.5 percent in the fourth quarter, the government said Friday, underscoring a convincing recovery on booming exports and healthy consumer spending.
Compared to the previous quarter, the economy expanded 1.4 percent during the October-December quarter, the Cabinet Office said. If that rate were maintained for a full year, Japan's gross domestic product - the value of goods and services produced in a nation - would grow 5.5 percent.
The numbers, which were better than analyst predictions, are the latest dose of good news for the world's second-largest economy, which has suffered through more than a decade of slow or zero growth.
Major companies carried out drastic cost cuts, and corporate profits and capital spending have rebounded in recent months. Robust growth in China and relatively solid growth in the U.S. economy have underpinned Japanese exports and revival.
Surging capital investment and growing exports, especially autos, drove growth during the fourth quarter, Fumikazu Hida of the Cabinet Office told reporters.
The article is here.
Thursday, February 16, 2006; Posted: 7:57 p.m. EST (00:57 GMT)
TOKYO, Japan (AP) -- Japan's economy grew at an annual pace of 5.5 percent in the fourth quarter, the government said Friday, underscoring a convincing recovery on booming exports and healthy consumer spending.
Compared to the previous quarter, the economy expanded 1.4 percent during the October-December quarter, the Cabinet Office said. If that rate were maintained for a full year, Japan's gross domestic product - the value of goods and services produced in a nation - would grow 5.5 percent.
The numbers, which were better than analyst predictions, are the latest dose of good news for the world's second-largest economy, which has suffered through more than a decade of slow or zero growth.
Major companies carried out drastic cost cuts, and corporate profits and capital spending have rebounded in recent months. Robust growth in China and relatively solid growth in the U.S. economy have underpinned Japanese exports and revival.
Surging capital investment and growing exports, especially autos, drove growth during the fourth quarter, Fumikazu Hida of the Cabinet Office told reporters.
The article is here.