Japan emerges from recession on post-COVID consumer rebound
Japan’s economy emerged from recession and grew faster than expected in the first quarter as a post-COVID consumption rebound offset global headwinds, shoring up hopes for a sustained recovery. But mounting signs of a slowdown in U.S., European and Chinese growth cloud the outlook for the export-reliant economy, heightening uncertainty on how soon the central bank can phase out its massive stimulus programme. “Consumption will continue to underpin growth as removal of COVID curbs boost tourism and service spending,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. “But ...
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