Inflation Makes Japan Economic Expansion Hard to Feel

Tokyo, Sept. 17 (Jiji Press)--The ongoing economic expansion in Japan has lasted 74 months through July based on recent preliminary government statistics, highly likely surpassing the "Izanami" boom from February 2002 to February 2008, the longest period of growth since the end of World War II.

During the current expansionary phase, the country's nominal gross domestic product increased amid inflation, and corporate profits have hit record highs thanks in part to the yen's sharp depreciation.

With inflation-adjusted real wages failing to grow markedly, however, it is difficult for households to feel the economic expansion.

According to the preliminary data released by the Cabinet Office on Sept. 7, the index of coincident economic indicators continued improving.

Whether the current expansionary phase is the longest since the end of the war will be formally decided on the basis of discussions by a panel of experts under the government agency in charge of determining the economy's cyclical peaks and troughs.

[Copyright The Jiji Press, Ltd.]