Japan reports its economy grew at an annualized rate of 1.6 percent in October-December, much stronger than the initial estimate, thanks to strong domestic demand and private investment. Domestic demand and private investment excluding spending on housing were revised upward. The government is also increasing public spending to give the economy a boost. Critics say the Abenomics approach hasn't helped the poor enough, especially since companies have held back on raising wages. The weakening dollar is another concern, given that a relatively strong yen is a competitive disadvantage for Japanese manufacturers and also hurts corporate profits brought back to Japan from overseas operations.

Source: ABC News March 08, 2018 06:14 UTC