"Japan is on a steady recovery path"
- Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance Co.
Following stagnation of the GDP during the previous year, Japan's leading indicator has advanced by 1% in the first quarter of 2012, as a result of steadfast personal spending, growth of exports and gradual healing of regions, affected by devastating natural disaster.
According to Yoshimasa Maruyama, chief economist at Itochu Economic Research Institute, "consumer spending and public investment are what drove the economy, with auto demand stirred by government subsidies and investment helped by extra budgets after the earthquake."
Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance Co., assured that "Japan is on a steady recovery path," but also noted that "this high growth probably won't continue."
© Dukascopy Bank