Thereafter, the economy showed signs of recovery as a result of various policy measures taken as well as efforts made nationwide, but it plunged again due to the Great East Japan Earthquake, which occurred on March 11, 2011.
This was followed by additional shocks such as the European debt problem and the flooding in Thailand, making the year 2011 an extremely severe one for Japan’s economy. Since the beginning of 2012, Japan’s economic activity has started picking up moderately as domestic demand remains firm, supported mainly by reconstruction-related demand after the earthquake.