17 Aug 2009

Japan's economy out of recession

3:31 pm on 17 August 2009

Latest economic figures from Japan suggest the economy has grown slightly in the past three months, officially taking the country out of recession.

The rise is due to a huge stimulus package and it is unclear whether the momentum will be sustained, the BBC reports.

It is the first positive figure for the world's second largest economy in 15 months.

Japan has pulled out of a deep recession, with the economy growing for the first time in more than a year.

In April to June, gross domestic product expanded by 0.9% - the equivalent of an annual increase of 3.7% after contracting for four quarters in a row.

It follows a record-breaking fall in the first quarter of the year, as global demand collapsed.

Massive government stimulus measures helped to boost the economy. Manufacturers also benefitted from recovering demand in China and other markets.

Recent figures have shown other nations are also coming out of the recession, including Germany, France and Hong Kong - a sign the slowdown is easing.