{"id":28115,"date":"2021-02-15T09:21:14","date_gmt":"2021-02-15T08:21:14","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=28115"},"modified":"2021-10-07T00:24:09","modified_gmt":"2021-10-07T00:24:09","slug":"japans-economy-expands-for-second-straight-quarter-after-recession","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/japans-economy-expands-for-second-straight-quarter-after-recession\/","title":{"rendered":"Japan\u2019s economy expands for second straight quarter after recession"},"content":{"rendered":"<p>DPA<\/p>\n\n\n<p>Japan\u2019s economy booked double-digit growth in the last quarter of 2020, the second quarter in a row, continuing to recover strongly following a historic recession, a government report showed on Monday.<\/p>\n\n\n<p>The economy grew at an annualized rate of 12.7 per cent in the October-to-December period, beating the median forecast of 9.4-per-cent growth by analysts.<\/p>\n\n\n<p>The survey carried out by the Nikkei Business Daily, comes after an annualized 22.7-per-cent expansion in the third quarter.<\/p>\n\n\n<p>In 2020, the economy shrank by 4.8 per cent due to a tax hike and the Covid-19 pandemic, marking the first contraction in 11 years, according to the Cabinet Office.<\/p>\n\n\n<p>Economic Revitalization Minister Yasutoshi Nishimura said the 2020 GDP figure reflected \u201cthe very severe situation,\u201d while the reading in the October-to-December quarter showed a \u201cbottoming out and the potential resilience of Japan\u2019s economy.\u201d<\/p>\n\n\n<p>However, analysts expect the economy to contract once again in the first quarter of this year as Japan has had a coronavirus state of emergency in place in 10 prefectures, including Tokyo and Osaka, since early January.<\/p>\n\n\n<p>The government requested that residents in the regions refrain from unnecessary outings and that bars and restaurants close by 8 pm (1100 GMT).<\/p>\n\n\n<p>In the October-to-December period, private consumption rose 2.2 per cent quarter-on-quarter following a 5.1-per-cent increase in the previous quarter.<\/p>\n\n\n<p>On the other hand, corporate investment grew 4.5 per cent \u2013 the first growth in three quarters, the Cabinet Office said in a statement.<\/p>\n\n\n<p>Exports surged 11.1 per cent in the quarter following a 7.4-per-cent rise in the third quarter, while imports rose 4.1 per cent, marking the first increase in second quarters.<\/p>\n\n\n<p>The government launched a travel promotion campaign in July to reinvigorate local economies and the tourism industry hit hard by the pandemic. But it was suspended in late December following a resurgence of infections.<\/p>\n\n\n<p>In the second quarter of 2020, as the pandemic and a consumption tax increase from late 2019 hit, Japan\u2019s economy shrank by a record annualized 29.3 per cent for the third straight quarterly contraction.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-28115\" data-postid=\"28115\" class=\"themify_builder_content themify_builder_content-28115 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>DPA Japan\u2019s economy booked double-digit growth in the last quarter of 2020, the second quarter in a row, continuing to recover strongly following a historic recession, a government report showed on Monday. The economy grew at an annualized rate of 12.7 per cent in the October-to-December period, beating the median forecast of 9.4-per-cent growth by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[262],"class_list":["post-28115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","tag-japan","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan\u2019s economy expands for second straight quarter after recession - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/japans-economy-expands-for-second-straight-quarter-after-recession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Japan\u2019s economy expands for second straight quarter after recession - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"DPA Japan\u2019s economy booked double-digit growth in the last quarter of 2020, the second quarter in a row, continuing to recover strongly following a historic recession, a government report showed on Monday. 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