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Japan sees longest growth in decade

Container trucks jam at Oi container yard of the Tokyo port. Japan has posted its longest economic expansion in over a decade, government data showed yesterday, marking a win for Tokyo’s growth bid even though its battle to conquer deflation is still far from won. The world’s No. 3 economy grew 0.5 percent in the first quarter — or an annualized 2.2 percent. That was the fifth straight rise and up from a 0.3 percent expansion in the last quarter of 2016. Japan’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm. But consumer spending remains tepid and efforts to lift inflation have fallen flat despite years of aggressive monetary easing by Japan’s central bank. Private consumption picked up a modest 0.4 percent in the first quarter from zero growth in the previous three months. Individual spending accounts for more than a half of Japan’s GDP. — AFP

Container trucks jam at Oi container yard of the Tokyo port. Japan has posted its longest economic expansion in over a decade, government data showed yesterday, marking a win for Tokyo’s growth bid even though its battle to conquer deflation is still far from won. The world’s No. 3 economy grew 0.5 percent in the first quarter — or an annualized 2.2 percent. That was the fifth straight rise and up from a 0.3 percent expansion in the last quarter of 2016. Japan’s prospects have been improving on the back of strong exports, with investments linked to the Tokyo 2020 Olympics also giving the economy a shot in the arm. But consumer spending remains tepid and efforts to lift inflation have fallen flat despite years of aggressive monetary easing by Japan’s central bank. Private consumption picked up a modest 0.4 percent in the first quarter from zero growth in the previous three months. Individual spending accounts for more than a half of Japan’s GDP. — AFP

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