Japan’s economy picks up speed

Suzie Neuwirth

JAPAN’S economy grew by 0.9 per cent in the first quarter, indicating that the country is on track for recovery.

The GDP growth of 0.9 per cent quarter-on-quarter indicates an annual rate of 3.5 per cent.

Analysts said it was an encouraging sign for the world’s third largest economy and the aggressive stimulus strategy implemented by the Prime Minister Shinzo Abe.

Japan has been suffering from deflation for the past two decades, with falling prices deterring consumer spending.