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Japan economy grew last quarter on better spending, exports

KIFI

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan has reported its economy grew at a 5.4% annual pace in the last quarter, helped by improved consumer spending and exports. Data released Tuesday showed the world’s third-largest economy grew 1.7% in 2021, marking its first annual expansion in three years. In quarterly terms, the economy grew 1.3% in October-December. The economy got a boost when measures to curb the spread of coronavirus infections were lifted last year. But the future remains uncertain after Tokyo and other areas of Japan resumed pandemic as cases rebounded with the omicron variant. Limits on inbound arrivals are also capping demand from travel and tourism.

Article Topic Follows: AP National Business

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