Japan’s economy grew 6.3 per cent overnight after it became the latest country to apply new UN standards for compiling national accounts.
The change, which takes the measured size of Japan’s economy from ￥499tn to ￥531tn ($4.6tn) for 2015, is a political boon for Shinzo Abe, prime minister, who has vowed to lift output to ￥600tn by 2020. Although it makes no difference to the true size of the economy, the new accounting delivers a third of his political promise.
Japan’s new figures, which also suggest more robust underlying growth since Mr Abe came to power in 2012, highlight the impact of the UN accounting standards around the world. They will lower Japan’s high ratio of debt to gross domestic product.
您已閱讀46%（710字），剩余54%（837字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。