Abenomics helped to boost by revised data , BOOMING
Japan's hopes for recovery boosted by revised data.
Japan has revised its growth numbers between January and March, adding to hope of recovery for the world’s third-largest economy.
The Japanese economy grew 1% in the first three months of the year, an increase from the primary estimates of 0.9%.
The cabinet office said that this would indicate a yearly growth of 4.1%.
The revision also had an encouraging effect on investors – the Nikkei 225 index jumped over 3% in early trade.
Martin Schulz of the Fujitsu Research Institute told the BBC that the policy measures introduced by Prime Minister Shinzo Abe and the Japanese central bank to drag the economy out of stagnation, spur growth and strengthen the yen – which had fallen by nearly 25% against the US dollar last November – were finally starting to be felt.
These measures included doubling the national money supply and keeping long-term interest rates low in order to boost domestic demand and generate higher consumer prices.
In light of the revised data, which indicated an increase in domestic demand, analysts have said that the Japanese policymakers appear to have had the right idea.
Tony Evans - Tokyo 