It seems that the Japan’s economy is slowly standing on its feet as official data showed that the country’s GDP for the first quarter substantially topped analysts’ estimates. The surprising result adds to signs that Abenomics works. Not surprisingly, all stimulus measures have already had a genuine impact on businesses and consumers as their confidence has notably increased as well.
Is this the end of recession? At least, latest data indicated that. According to the revised survey, Japan saw its economy expand in the final quarter of 2012. Certainly, the news is a good sign for Prime Minister Shinzo Abe who is focused on getting Japan out of two long decades of deflationary stagnation.