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Japan’s economy continues recovery from earthquake and tsunami

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by Kay Mitchell

Japanese industrial output gained for the third consecutive month in June as the world’s third largest economy is slowly recovering after the earthquake and tsunami, which struck in March.

Industrial output rose by 3.9% in June on a monthly basis, according to the Ministry of Economy, Trade & Industry.

Japanese manufacturers were hit hard by the devastation caused by the twin disaster as they were forced to halt production.

Further evidence of a recovery came after it was revealed Japanese retail sales rose 1.1% in June on an annual basis – the first gain since March.

On a monthly basis, meanwhile, sales were 2.9% higher.

Meanwhile, last week it was revealed Japan’s exports recovered in June.

Exports rose by 5.4% on a monthly basis but were 1.6% lower on an annual basis – but this represented the slowest fall in four months.

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News posted: July 29, 2011

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