>> Japan's economy is on a hot streak. And it has cashed up shoppers to thank. A spending frenzy in the run up to Christmas has helped drive an eighth straight quarter of growth. GDP ticked up half a percent between October and December. Imports also soared 2.9%, fueled by plenty of demand.
The numbers weren't quite as strong as what economists were forecasting. But Japan hasn't strung together this much back to back expansion since the bubble economy of the 1980s. The country's central bank is keeping a close eye on this winning run as well. It needs to hit an elusive inflation target of 2%.
And with these numbers, feels there might be some momentum building to finally reach that. It's a victory of sorts as well for Prime Minister Shinzo Abe, with signs his Abei-nomics policy's a bearing fruit, reviving an economy that spent decades churning at a snails' pace.>> We expect an economic recovery, primarily by growth in the private sector.
We must however pay close attention to the instability of the overseas economy and the financial market.>> The numbers also arrived as Tokyo decided to nominate Bank of Japan governor, Haruhiko Kuroda, for a rare second term. That likely means Kuroda's ultra loose monetary policy will stay in place capping borrowing costs at around zero.
>> It maybe welcome news for investors as well, worry that major central banks will soon hike interest rates after days of volatility on the markets.