Japan's Economy Rebounds In 2nd Quarter
Japan's economy grew 0.9 percent from March through June. Consumers started buying again, and exports increased — two elements that are crucial to Japan's economy. Also, the government had stepped in with tax breaks and stimulus money. Germany and France reported last week that their economies had begun to grow again.
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STEVE INSKEEP, host:
NPR's business news starts with Japan's economy recovering.
(Soundbite of music)
INSKEEP: Japan's economy grew almost one full percentage point from March through June. That is good news for the world's second largest economy, which has been in its worst recession since World War II. There was pent-up demand among consumers who started buying again, and exports increased - a couple of elements that are crucial to Japan's economy. Also, the government stepped in with tax breaks and stimulus money.
Last week brought similar news from Europe, where Germany and France reported that their economies had begun to grow again. And here in the United States, the Federal Reserve came out with its own positive news, saying the world's largest economy, ours, seemed to be leveling out. China, Singapore and South Korea have all seen a bounce, as stimulus efforts around the world start to take effect.
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