Thereafter, as a result of strenuous efforts by the parties concerned, Japan’s economy began to recover in the July-September quarter of 2011.
However, in the October-December quarter, the economy faced downward pressure as exports and production grew at a sluggish pace due to a slowdown in overseas economies – on the back of the European debt problem, monetary tightening in China, and the flooding in Thailand – as well as the appreciation of the yen.