Japan beats forecasts with 3.5% growth in Q1

In Q1 2013 Japan's GDP expanded by 0.9% quarter-on-quarter or 3.5% in annualised terms, marking the second consecutive quarter of growth after six months of contraction in 2012. The figures thwarted analysts' expectations, which stood at 0.7% quarter-on-quarter, according to a poll conducted by Reuters, and 2.7% annualised. Japan has seen solid growth in consumer spending and exports, helped by the weaker domestic currency. Abe's policies have helped to drive the yen down to a five-year low against the dollar, currently trading at 102.4, having fallen by over 20% since he took over...