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Japan’s economy recovers gradually in Q3

Japan has shown signs of gradual economic recovery from Covid-19 stagnation after a survey showed that the sentiments of big Japanese manufacturers rose for the first time in four months in December; and the service-sector mood hit a three-year high. The December sentiment index for large manufacturers stood at +8, up from +2 a month earlier, the first rise since August. The improved sentiment was led by producers of manufactured goods, such as metal products and machinery for transport equipment. The service-sector index rose to +25 from the +20 figure in November, the best since October 2019, with respondents in the information and communications subsector among the most optimistic. Japan’s economy shrank in Q3 as global recession risks, a weak yen, and higher import costs hurt consumption and businesses.

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