TOKYO (Reuters) – Japan’s economy rebounded in the fourth quarter of 2021 on the back of robust consumption amid the waning coronavirus outbreak, even as rising commodity prices and coronavirus infections the Omicron variant cast a shadow over the outlook.
Some analysts expect the economy to contract further in the current quarter as coronavirus infections rebound and problems in supply chains disrupt industrial production, making it harder for Tokyo policymakers to support recovery. economic.
Over the period October-December, the Japanese economy grew by 5.4% on an annual basis, after a contraction of 2.7% in final reading in the previous quarter, show official data published on Tuesday. The consensus was +5.8%.
The rebound in the Japanese economy is largely due to the rise in private consumption (+2.7%, against a consensus of +2.2%), which represents more than half of the country’s gross domestic product (GDP). country.
The lifting, in October, of the state of emergency intended to combat the health crisis, as well as the drop in the daily number of coronavirus contaminations, benefited consumption in the last quarter of 2021.
But the spread of the Omicron variant has forced the government to impose restrictions in many regions and maintain closed borders, with the likely consequence of a drop in consumption since the beginning of the year.
(Report Leika Kihara and Daniel Leussink; French version Jean Terzian)
by Leika Kihara and Daniel Leussink