Is it turnaround time for Japan?

ON JAPAN

GDP growth forecasts from the OECD for Japan in 2012 show a significant turnaround for the expectations of GDP growth in 2011.

2011 is currently forecast to deliver negative GDP growth of -0.5%. However, with the inventory rebuild and infrastructure spend post the earthquake of March 2011, GDP for 2012 is estimated to show growth of 2.2%. When compared to China at more than 8.5% this seems rather insignificant, however, with the eurozone expected to grow by just 0.3% next year, and the US 1.8%, the number for Japan becomes more significant.  We are cognisant that simple numbers do not equate to stock market returns, however, historically the Topix has rebounded positively when the growth outlook turns upwards. ...