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Japan's economy makes steady progress.


by MEDIA CONTACT RESOURCES, INC.
Market Asia Pacific • July 1, 2005 • Agence France-Press report

Japan is managing to hold onto its hard-won recovery, and Japanese consumers are responsible for the staying power.

Agence France-Press (AFP) reported the official growth figures in a dispatch on June 13, 2005 from Tokyo revealing that Japan's GDP grew 1.2 percent in the first quarter 2005 compared with the final quarter of 2004. The contribution of private consumption to that growth was 0.6 percent - exactly half.

AFP sourced information from the Japanese Cabinet Office, which included the fact that the first quarter growth rate was the highest in a year.

The economy was still plagued by slowing exports, but private consumption and improvements in job prospects for Japanese workers made up for any penalty lower exports exacted on GDP growth.

Improved industrial output of 0.3 percent also helped keep Japan's economy moving forward. The comparison was against industrial output for the same period a year earlier.


COPYRIGHT 2005 Media Contact Resources, Inc. Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
NOTE: All illustrations and photos have been removed from this article.


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