Japan's GDP Grows 5.4%

Japan's preliminary gross domestic product (GDP) rose 5.4% quarter-on-quarter in the fourth quarter of last year, reversing the 3.6% decline in the previous quarter, but below market expectations of 6%. If calculated for the whole year of 2021, Japan's GDP growth will increase by 1.7% year-on-year, which is the first positive growth recorded in the past three years, reflecting the continued recovery of the local economy. The Cabinet Office said that the epidemic eased in the fourth quarter of last year, and the relaxation of epidemic prevention measures improved consumption power and exports. However, in recent months, the mutant virus Omicron has been rampant, and 36 prefectures, including Tokyo, have to implement key measures to prevent the spread. , the outlook for the future economy is still full of uncertainty.