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Krugman: Spending and Growth
Spending and Growth
First-quarter growth results are now in for the major advanced economies; they look like this:
Wait, what? Japan as star performer? What’s that about?
Actually, no mystery. From Bloomberg:
So Japan, which is spending heavily for post-tsunami reconstruction, is growing quite fast, while Italy, which is imposing austerity measures, is shrinking almost equally fast.
- more-
http://krugman.blogs.nytimes.com/2012/05/17/spending-and-growth/
First-quarter growth results are now in for the major advanced economies; they look like this:
Wait, what? Japan as star performer? What’s that about?
Actually, no mystery. From Bloomberg:
Japan’s economy expanded faster than estimated in the first quarter, boosted by reconstruction spending that’s poised to fade just as a worsening in Europe’s crisis threatens to curtail export demand.
So Japan, which is spending heavily for post-tsunami reconstruction, is growing quite fast, while Italy, which is imposing austerity measures, is shrinking almost equally fast.
- more-
http://krugman.blogs.nytimes.com/2012/05/17/spending-and-growth/
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