In the latest results from the second quarter, the Japanese economy came out of the biggest recession since the Second World War, but many still fear that the recovery is not as sustainable as some think.

The Gross Domestic Product (GDP) grew 0.9% Japan between April and June, representing an annualized pace of 3.7%, after having retreated 11.7% in the first quarter of the year. The figures were presented today by the Japanese government, which faces elections at the end of the month.

"The growth was sustained by exports and the government package, but it is hard to believe that both continue to keep the economy growing at this rate. The worst is over, but Japan simply is unable to achieve a sustainable recovery," said chief economist of Nomura Securities.

 

The largest European trade deficits are the United Kingdom (38 billion), France (24.4 billion), Spain (20.7 billion) and Greece (11.6 billion), the data was revealed today by Eurostat.

On the other hand, the largest trade surpluses were recorded in Germany (46.3 billion), Ireland (15.6 billion) and Netherlands (13.8 billion).

Eurostat added that the euro area recorded a trade surplus of only 4.6 billion in June, against nil balance observed in the same period last year.

In total the EU 27 is estimated to have a negative trade balance 4.3 billion in June, which is an improvement on the deficit of 19.3 billion euros achieved in the same month of 2008.

In the World Top Investor rankings, the supremacy of Mariusz Ganczar continues with gains of 744% and is followed by György Szabó Barnabas in second place with earnings of 354%. But, is it possible that we will see any changes in the WTI rankings if the market corrects itself after the gains of recent weeks?