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Japan has come out of recession with the news that its economy grew by 0.9% during the quarter from April to June. Japan had previously experienced a contracting economy in four consecutive quarters.
It’s thought the rise comes amid a huge government initiative and it’s yet unknown whether the growth will be sustainable.
Still, Japan follows Hong Kong, Germany and France in reporting economic growth leading some to believe the recession in some parts of the world is beginning to ease.
France and Germany both saw their economies grow by 0.3% between April and June, bringing these European giants out of recession for the first time in a year.
Hopes of a swift recovery from the UK recession were dashed as it was reported the economy shrunk by 0.8% between April and June 2009. The UKs fifth negative quarter came as a suprise to business leaders and industry experts who were expecting a decline of around 0.3%
