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. A string of short-term leaders followed before Abe swept back to power in late 2012 on a pledge to reignite Japan’s once-booming economy with a plan dubbed Abenomics. Cash-rich firms have been stingy with pay hikes though, which hurts spending and acts like an anchor on the economy.

Source: Egypt Independent May 18, 2017 11:48 UTC