Japan’s economy expanded by 5 per cent in the third quarter of 2020 as the country’s rebound from Covid-19 produced its first quarter of growth in a year.
The figure exceeded consensus expectations of a 4.4 per cent rise. But in a sign of the severe damage wreaked by the pandemic, Asia’s largest advanced economy is still almost 6 per cent smaller than it was a year ago.
The partial rebound suggests a full recovery from the pandemic will prove protracted and difficult, especially if a recent rise in coronavirus cases develops into a larger wave. Japan recorded 1,722 new cases of Covid-19 on Saturday, the most recent day for which data was available, compared with 868 a fortnight earlier.
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