英语时文天天读英语时文天天读.doc

考研英语时文天天读 通过时文泛读记单词、练翻译每日一篇 Text 01 Japanese GDP figures raise hope of recovery By Barney Jopson in Tokyo Published: February 18 2004 2:07 | Last Updated: February 18 2004 19:57 The Japanese economy grew in the past quarter at its fastest rate since the 1980s asset bubble began to subside, raising hopes that the country is on the way to putting more than a decade of stagnation behind it.Japans gross domestic product expanded at an annualised 7 per cent in the three months to December, with fresh data on Wednesday showing the recovery has broader foundations than export growth. The impressive rate of expansion surpassed US growth of 4 per cent in the same period, and prompted the Bank of Japans deputy governor to say this year could mark a turning point in the battle against deflation, which has dogged the economy since the late 1990s.In the past six months, positive economic figures have helped build confidence in the possibility of a sustainable recovery. Corporate bankruptcies fell last year for the first time in four years; unemployment is at a two-and-a-half year low; banks are bringing their bad loans under control and consumer prices rose late last year for the first time since 1998, albeit for one-off reasons.GDP is very strong, said Masaaki Kanno, economist at JP Morgan Chase in Tokyo, and reflects the recovery of the global economy and the strength of exports. Sales of digital cameras to the US and industrial equipment to China are booming, but equally important is that the effects have begun to filter through to the domestic economy, with companies increasing their capital spending to upgrade production capacity.Wednesdays data showed long-awaited signs of a revival in private consumption, with stable wages, rising bonuses and falling unemployment making consumers more confident. But Mr Kanno said the past quarters rate of expansion was not sustainable, adding that Japans annual trend growth was 3 per cent.Growth for the 2003 calendar year was 2.7 per c