Japanese economy records recovery from pandemic slump

The Japanese economy grew at an annual rate of 12.7% in October-December. Picture: Eugene Hoshiko/AP

The Japanese economy grew at an annual rate of 12.7% in October-December, marking the second straight quarter of growth amid a recovery from its pandemic slump, according to government data released on Monday.

The world’s third-largest economy recorded growth in consumption, government spending and exports for the final quarter of last year, compared to the previous quarter, the Cabinet Office said.