Japan

摘要

1. After exiting recession in 2009Q2 with revised growth of 0.6% on the quarter, Japan is likely to have posted a further quarter of expansion in 2009Q3. Based on the available high frequency indicators, we estimate that GDP rose by 0.9% in the third quarter.rn2. The continued upturn in Q3 can be traced to the positive impact of a turn in the stock cycle, improved external demand, and the impact of government stimulus measures. Beyond Q3, however, uncertainty remains over the pace of recovery.