Japan Blasts Out Of Recession With Big GDP Gains

Everywhere you look, the recession is over, at least through the lens of official governmnet statistics.

Japan is the latest to come surging out of the gate.

WSJ: The nation’s real GDP rose 1.2% in July-September from the prior quarter, working out to a 4.8% increase on an annualized basis, Cabinet Office data showed. That was much better than the 0.6% on-quarter growth and 2.2% annual pace of expansion expected by economists. In the April-June period, the economy grew for the first in five quarters, at a revised annual rate of 2.7%.

The better-than-expected growth came despite worries over the outlook for Asia’s largest economy, due to a grim job market and prolonged deflation.

The Nikkei is only up a fraction on the news. Perhaps it’s been “priced in” ever since the better-than-expected reading on machine orders booked last week.

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