TOKYO (Reuters) - Japan’s economy grew an annualised 21.4% in the third quarter, data showed on Monday, rebounding sharply from a record postwar slump in a sign the country is gradually emerging from the damage caused by the coronavirus pandemic.
Still, many analysts expect any further rebound in the economy to be moderate as persistent weakness in consumption and a resurgence in infections at home and abroad clouds the outlook.
The expansion in gross domestic product (GDP) compared with a median market forecast for an 18.9% gain, Cabinet Office data showed. It marked the first increase in four quarters and followed a 28.8% plunge in April-June.
On a quarter-on-quarter basis, the economy grew 5.0%, faster than forecasts of 4.4% and pulling out of recession.
Private consumption, which makes up more than half of the economy, rose 4.7% in July-September from the previous quarter, rebounding from a plunge in April-June blamed on lockdown measures aimed at preventing the spread of the virus.
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