JAPAN

Japan Is Gradually Coming Out of Recession: It may achieve gross domestic product growth of slightly more than 1.0% in 1994, according to an Organization for Economic Cooperation and Development annual report. Japan’s GDP will probably grow about 2.5% in 1995, the report said, given that the recent income tax cuts will be extended next year. Consumer spending is leading the rebound, and private capital investment will probably resume growth in 1995. But the recovery isn’t expected to bring a return to the higher growth rates of the 1980s, when Japan averaged about 4% growth each year.