Japan manages growth in final quarter as tourism returns

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — The Japanese economy grew at an annual pace of 0.6% in October-December, managing to eke out growth after a quarter of slowdown. The world’s third-largest economy has struggled amid restrictions related to the coronavirus pandemic, a shortage of imported parts from China and rising prices. But the easing of COVID-19 restrictions, both abroad and in Japan, has helped a recovery. The Cabinet Office reported that the economy grew 0.2% in the final quarter compared to the previous quarter. It contracted 0.3% in July-September and grew 1.1% in April-June. For 2022, the seasonally adjusted real GDP grew 1.1%.