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Japan’s Economic Surge Set to Slow as Virus Strikes Back

  • GDP grows annualized 21.4% on jump in exports and consumption
  • Record virus numbers threaten outlook as extra stimulus mulled
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Japan Grows at Fastest Pace Since 1968
Updated on

Japan’s biggest expansion in more than a half century outpaced expectations as exports and consumption powered growth, though the recovery is likely to cool this quarter as the virus sets new infection records at home and overseas.

Gross domestic product grew an annualized 21.4% in the three months through September from the previous quarter, expanding at the fastest clip since 1968, helped by government stimulus that fueled a sharp jump in consumer spending and a strong pickup in trade. Economists had forecast an 18.9% expansion.