TOKYO (Reuters) – Japan’s economy expanded by an annualised 12.7% in October-December last year, government data showed on Monday, a sign the country was emerging from the initial hit from the coronavirus pandemic.
The preliminary reading for fourth-quarter gross domestic product (GDP) exceeded economists’ median estimate of a 9.5% gain.
On a quarter-on-quarter basis, the economy grew 3.0% in the final three months of 2020, the Cabinet Office data showed.
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(Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Chris Gallagher)
