The economy: Out of the ditch and trundling down the road
A few years ago, investors in Japan may have gambled on the theory that, after years of false dawns, the country’s economy was finally on the verge of genuine recovery. Now, all but the most die-hard cynics are sure that is true.
Over the past year or so, one piece of evidence after another has fallen into place, building a comprehensive picture of an economy that, after 15 years of desperate slog, has put post-bubble stagnation behind it.
No single factor has explained the breakthrough. But after years of incremental and, often unnoticed, improvements at macro- and, especially, at micro level, Japan’s economy is out of the ditch and at last trundling down the road.
Japan is now entering its fifth year of growth
