Japan’s economy grew 0.5 per cent in the first quarter of 2017 marking its fifth straight positive quarter, the longest expansion in more than a decade. Recently released figures show that exports have boosted GDP while preparation for the 2020 Tokyo Olympics bumped investments.
Analysts however, note that the second half of the year will see a slowdown mainly due to China’s slowing demand.
Consumer spending in Japan is still sluggish. Individual spending accounts for more than half of Japan’s GDP. Government figures show the average of monthly consumption per household for March was yen 300,889, down 5.3 per cent year-on-year.