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Monday
Aug152011

Japan's Economy Recovering?

TOSHIFUMI KITAMURA/AFP/Getty Images(TOKYO) -- While the U.S. struggles through a painfully slow recovery, there are signs that the world's third largest economy is bouncing back from its own financial troubles.

Japan's benchmark Nikkei closed more than a percent higher, thanks to signs the country's economy may be recovering after the deadly earthquake and resulting tsunami earlier in the year. While gross domestic product for the second quarter shrank, the 1 percent decline was much better than economists were expecting.

Japan's triple disasters and strong yen have battered exporters, but analysts say exports may return to pre-disaster levels soon.

Economists expect Japan to rebound in the next quarter.

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