The bank of Japan in its most recent Monthly Report of Recent Economic and Financial Developments, published on 18 March, said the economy was picking up with a strong revival in net exports, which grew by 2% in 2009.

Private consumption, notably durable goods consumption, picked up despite the continued sluggish employment and wage growth. According to the report private domestic demand rose by 0.3% in the fourth quarter too, a welcome gain after the -4.3% decline in demand over the previous