Japan's GDP growth accelerates. In the first quarter, gross domestic product rose by 0,9% after the 0,3% growth recorded in the previous quarter (revised data). In the three months of 2013, compared to the same period of the previous year, the growth is amounted to 3,5 per cent, the highest among the G7 countries. The trend figure is decidedly above expectations which were for +2,7%.
Greater consumption, increased public spending and the trend of exports are among the causes that have driven the growth of the GDP. Consumer confidence rallied sharply as Prime Minister Shinzo Abe returned and put pressure on the Bank of Japan's monetary policy. His choices led to a weakening of the yen, a factor which, in turn, helped exports.
