|
Along the tsunami-battered coast, most of the debris has been cleared away, but rebuilding has yet to begin in many towns and communities as local leaders finalize reconstruction plans. Reconstruction is expected to stimulate economic growth, although export demand still appears weak. "The growth rate will turn positive and stay positive this year because reconstruction demand will continue to push up GDP," said Kichikawa. "But the pace of growth will depend on whether the decline in exports will stabilize." Economy and fiscal policy minister Motohisa Furukawa said in a statement that exports and production increased in December in a "rebound to the impact of flooding in Thailand." "If we take into account these factors and look at the overall economic situation, we can say that upward movement is continuing," he said. Furukawa also said that the U.S. economy is moderately recovering and global business sentiment is improving. "We expect steady increase of exports amid moderate improvement of the global economy," he said. "However, we need to be fully aware of the downside risk." For all of 2011, Japan's economy contracted 0.9 percent from 2010, when GDP grew a robust 4.4 percent. In 2009, the economy shrank 5.5 percent in the wake of the global financial crisis.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor