Economic Growth in Japan Lower During Second Quarter

Economic Growth in Japan Lower During Second Quarter

Japan reported lower economic growth during the second quarter of 2012 ending June. Japanese economy registered 0.3 per cent growth compared to 1.3 per cent during the first quarter of 2012.

Kyodo News reported that the economy of Japan has witnessed rise for consecutive four quarters. Japanese Yen has also strengthened against USD and Euro.

Japanese government is taking steps to check the rise in valuation of Yen as the exporters will face higher competition with rising Japanese currency. The government has planned to extend dollar credit facility for companies planning to invest in production facilities abroad.

The world’s third largest economy is dependent mainly on exports. Japan’s GDP growth has been hit due to Eurozone crisis and lower demand for products in European markets.

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