Japan’s economy bounces back to grow 22.9% in third quarter

Japan’s economy recovered strongly in the third quarter after earlier hits from the coronavirus (Koji Sasahara/AP)

Japan’s economy expanded at a 22.9% annual rate in the latest quarter, as businesses and personal spending recovered from pandemic-related shocks in the spring and early summer.

Economists said the upward revision released on Tuesday was in line with forecasts and suggests Japan’s economy, the world’s third largest, is on the mend from the recession that started in late 2019, even before coronavirus outbreaks hit.