Economic Indicators Point to Gradual Recovery

      May 13, 2015 12:32

      The government has detected signs that the economy is gradually beginning to recover.

      In a report published on Tuesday, the Ministry of Strategy and Finance said that indicators of the real economy showed signs of a gradual improvement in the first quarter of this year. It seems the economy is recovering from the recession of the fourth quarter of last year.

      Private consumption rose by 0.6 percent on-quarter in January to March, and retail sales continued to recover in April. Sales of gasoline and diesel increased by 8.7 percent in the first quarter from a year earlier, thanks to falling oil prices. Sales of cars rose by 2.8 percent. Department stores saw their sales grow by 1.5 percent, similar to levels seen in previous years.

      Investment in the construction sector in the first quarter rose by 7.5 percent compared to the preceding quarter. As construction orders jumped 48 percent between January and March, the government expects investment in the sector to continue to increase for the time being.

      "There are still external uncertainties such as the weak Japanese currency and prolonged global recession," he added.

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