Commodity Alert : Japan posts longest growth streak since bubble economy
Japan's economy posted its longest continuous expansion since the 1980s boom as fourth quarter growth was boosted by consumer spending, and moved Prime Minister Shinzo Abe's revival plan another step closer to vanquishing decades of stagnation. The long run of growth is also an encouraging sign for the Bank of Japan, hinting that the economy may at last be building up momentum to lift consumer prices toward its 2 percent inflation target. Japan's economy has now posted the longest continuous expansion since a 12-quarter stretch of growth between April-June 1986 and January-March 1989 around the height of Japan's notorious economic bubble.
The economy expanded at a 0.5 percent annualized rate in October-December, less than the median estimate for annualized growth of 0.9 percent, Cabinet Office data showed. That followed a revised 2.2 percent annualized increase in July-September.
(Impact: JPY hovering near days high)
Source : Investing
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