The government on May 10 revised upward the growth rate of the nation's gross domestic product for the January-March period. Previously it reported that the economy grow 0.9 percent or an annualized 3.5 percent in real terms from the previous quarter. It now says that the economy grew 1.0 percent or an annualized 4.1 percent.
Thus the government claims that the real economy is improving thanks to the Abe administration's economic policy, which centers on massive monetary easing by the Bank of Japan.
But people should not be duped by the government's public relations efforts. The dark side of Abenomics is raising its head. Stock prices have started to show erratic fluctuations. Institutional investors have made profits, but ordinary citizens are in no position to benefit from the stock market.
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