TOKOYO (February 15, 2021)–GDP grows annualized 12.7% TOKYO (Kyodo) — Japan’s economy in the October-December period grew an annualized real 12.7 percent from the previous quarter, continuing to recover from a coronavirus pandemic-induced slump, government data showed Monday.

The expansion in real gross domestic product, the total value of goods and services produced in the country adjusted for inflation, corresponds to a 3.0 percent increase on a seasonally-adjusted quarterly basis, according to the preliminary data released by the Cabinet Office.

In 2020, the Japanese economy shrank 4.8 percent in real terms, logging the first contraction since a 5.7 percent decrease was marked in 2009.

Source: KOYDO