Japan's real GDP grew 1.2 percent in Q1 2010, or an annualized 4.9 percent, from the previous quarter, marking the fourth consecutive quarter of growth. Nominal GDP also grew 1.2 percent (annualized 4.9 percent), the second straight quarterly rise.
External demand pushed up real GDP 0.7 percent and domestic demand 0.6 percent. Exports increased 6.9 percent, more than the 5.8 percent posted the previous quarter, driven by exports to Asian markets including China. Consumer spending, which accounts for about 60 percent of GDP, rose 0.3 percent — for the fourth straight quarterly rise.
Public works investment slipped 1.7 percent, the third straight quarterly decline. But capital investment grew 1 percent, up for the second consecutive quarter. Housing investment rose 0.3 percent, the first rise in 15 months.
Growth in consumer spending has been helped by government measures to subsidize consumers who purchase eco-friendly products. Since the measures are due to expire by the end of fiscal 2010, consumer spending might tumble. Unemployment is still relatively high (5.1 percent in April) and basic salaries of workers have been decreasing. There is also the risk that exports will stall as the governments of emerging economies try to slow down overheated economies.
http://search.japantimes.co.jp/cgi-bin/ed20100605a2.html
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