Monday, August 17, 2009

Stimulus Helps Lift Japan Out of Recession

Washington Post:

"TOKYO, Aug. 17 -- Japan announced Monday that its economy has returned to growth, bouncing back from what had been the steepest slide of any industrialized nation during the global economic crisis.
Japan's gross domestic product, which last winter contracted at more than double the rate of the United States', grew at an annual rate of 3.7 percent from April to June, the government said.
Helped by a rebound in exports to China and a large government stimulus program, the world's second-largest economy was able to record its first quarter of growth in more than a year, as the GDP, a broad measure of economic output, expanded 0.9 percent over the previous three-month period."