Japan economic expansion becoming longest since World War II: white paper
Jiji -- Aug 04
The Japanese economy's ongoing expansion phase is becoming the longest since the end of World War II, a white paper said Friday.

The economy, at the same time, is facing the challenge of shoring up its potential growth amid deepening labor shortages against a backdrop of the aging population, the annual report said.

The fiscal 2018 edition of the Annual Report on the Japanese Economy and Public Finance was submitted to a cabinet meeting on the day.

The current expansion period started in December 2012, when Prime Minister Shinzo Abe returned to power. If the expansion continues until next January, or for six years and two months, it would exceed the current postwar record of six years and a month, from February 2002 to February 2008.

According to the white paper, a virtuous economic circle is going on steadily, with corporate earnings at record high and income growth helping to boost consumption and investment.

News source: Jiji
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