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		</div><p>The Japanese economy grew at an annual rate of 12.7% in October-December, marking the second straight quarter of growth amid a recovery from its pandemic slump, according to government data released on Monday.</p>
<p>The world’s third-largest economy recorded growth in consumption, government spending and exports for the final quarter of last year, compared to the previous quarter, the Cabinet Office said.</p>
<p>Japan’s seasonally adjusted gross domestic product had grown at a dramatic annualised rate of 22.9% in the July-September period.</p>
<p>GDP is the sum value of a nation’s products and services. The annualised rate shows what the rise or drop would have been if that same pace had continued for a year.</p>
<p>Prospects for the future appear relatively good, with trade resuming, and a vaccine rollout in nations that are Japan’s key trading partners, such as the US and other Asian nations.</p>
<p>For the 2020 calendar year, Japan’s economy sank 4.8%, the first year of contraction in 11 years. Quarter on quarter, the economy grew 3% in October-December, according to preliminary data.</p>
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