Japan’s economy expands in Q4 2021

Japan’s gross domestic product (GDP) expanded at an annual pace of 5.4% in the last quarter of 2021, on the back of improved consumer spending and exports, the government said. Data released by the Cabinet Office showed that the nation’s economy grew 1.3% from the previous quarter. For 2021, the world’s third-largest economy grew 1.7%, marking its first growth in three years. That positive number reflects a rebound from a stagnated economy hurt by COVID-19 in 2020. Japan’s economy shrank in 2020 and 2019. The Q4 growth got a boost after measures to curb the spread of coronavirus infections were lifted last year. Analysts, however, said the future remains uncertain as the restrictions have come back lately in most parts of Japan, including Tokyo.