TOKYO: Japan’s economy expanded by a revised 0.3 percent in the last quarter of 2016, government data showed Wednesday, as company investment and a weaker yen propped up growth. For 2016, the Japanese economy grew 1.0 percent, unchanged from the initial estimate, after posting 1.2 percent growth the previous year, the Cabinet Office said. A weak yen also helped prop up the economy by driving exports, but inflation and consumer spending remain weak as cautious firms avoid big pay hikes. “The Japanese economy is on track for moderate recovery and we expect (the Bank of Japan) will keep the current policy for the time being,” he added. Japan’s economy contracted in the last three months of 2015, before bouncing back last year although the recovery has been wobbly.

Source: Manila Times March 08, 2017 16:57 UTC