Wednesday, May 19, 2004

What's driving Japanese growth? Takehiro Sato and Osamu Tanaka at Morgan Stanley gives us the straight dope.
Components that drove growth were personal consumption (+1.0% QoQ), capex (+2.4%), private-sector inventory (a contribution of +0.2ppt QoQ), and exports (+3.9%).
Note that Japanese exports grew faster than any other component of the recent growth profile.

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