But the growth was fragile and could be easily disrupted, analysts warned, at least in the short term. Japan’s economy, the world’s third largest after the United States and China, grew 3% during the October to December period, for an annualised growth rate of 12.7%. Japan’s unemployment rate stood at just 2.9% by the end of December versus 2.1% at the same time the year before. Still, the past two quarters of growth did not make up for the damage wreaked by the pandemic. While people in Japan are not facing the same level of short-term economic peril as those in the United States, growth is expected to contract again in the first three months of this year.

Source: bd News24 February 15, 2021 07:18 UTC