Japan economy grew last quarter on better spending, exports
ABC News
Japan has reported its economy grew at a 5.4% annual pace in the last quarter, helped by improved consumer spending and exports
TOKYO -- Japan’s economy grew at an annual pace of 5.4% in October-December, boosted by improved consumer spending and exports, the government said Tuesday.
On a quarterly basis, Japan’s real gross domestic product, or GDP, which measures the value of a nation’s products and services, grew 1.3% in the last three months of the year, according to Cabinet Office data.
Growth got a boost after measures to curb the spread of coronavirus infections were lifted last year. The restrictions asked restaurants and bars to close early and large-scale events to be canceled or held with limited crowds.
The latter part of last year had seen people starting to travel again, and venture out for dining and shopping. But the future remains uncertain after Tokyo and other areas of Japan resumed pandemic precautions as cases have rebounded with the omicron variant.
