Japan's Surprising Resilience: What Lies Behind the Strong GDP Numbers? Japan's economy expanded at an annualized rate of 2.
1% in the January March quarter, a welcome surprise given the global headwinds, including rising energy prices due to the conflict in Iran.
The growth spurt is largely driven by consumer spending and government stimulus packages. Increased outlays by consumers, which rose 0. 3% quarter on quarter, are a key factor in this growth story.