Japan economy grows 5.9 percent in 1st quarter

[Omaha Steve]

Source: AP-Excite

TOKYO (AP) — Preliminary data show Japan's economy grew at a 5.9 percent annualized rate in the January-March quarter as companies and consumers stepped up buying ahead of an increase in the sales tax.

The growth figures for the world's third-largest economy released Thursday were in line with expectations a pre-tax hike rush. Strong private consumption, residential investment and corporate spending were the biggest contributors to growth, while public spending fell slightly.

Quarter-to-quarter growth, adjusted for inflation, was 1.5 percent.

FULL short story at link.


Read more: http://apnews.excite.com/article/20140515/as-japan-economy-29e918f992.html

[BootinUp]

1. wow. Maybe they are doing something right?

[davidpdx]

2. That's good news for Korea they are a large trading partner of Japan

Also lots of Japanese tourists come to Korea which helps the economy here. Hopefully that will bring some good news for us.