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Japan out of recession but growth disappoints

Japan out of recession but growth disappoints
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There were economic figures from Japan to please but also data to disappoint.

The world’s third largest economy came out of recession in the fourth quarter of last year, but the economy grew at a slower than expected rate.

Household and corporate spending disappointed as the government faces the challenge of shaking off decades of stagnation.

The annualised 2.2 percent expansion in October to December last year fell short of the 3.7 percent increase which was forecast.

The growth in the fourth quarter comes after the economy contracted for the two previous quarters.