THESTAR.COM Still reeling from the aftermath of a devastating earthquake and tsunami, Japan’s economy grew at an annualized 6 per cent in the third quarter. That’s the fastest pace in 18 months, according to Japan’s cabinet office, which released the data on Monday showing GDP growth at 1.5 per cent for the three months ending Sept. 30.
Last week, the lower house of Parliament approved a third supplementary budget of 12.1 trillion yen ($160 billion) for reconstruction in the quake zone, which comes on top of two packages worth 6 trillion yen ($80 billion). In a survey of economists by The Economist magazine, the average GDP forecast for the last quarter of 2011 is in the negative. Others are predicting growth of no more than 1 per cent.
Last week, the lower house of Parliament approved a third supplementary budget of 12.1 trillion yen ($160 billion) for reconstruction in the quake zone, which comes on top of two packages worth 6 trillion yen ($80 billion). In a survey of economists by The Economist magazine, the average GDP forecast for the last quarter of 2011 is in the negative. Others are predicting growth of no more than 1 per cent.
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