Japan GDP surges annualized 21.4% but growth outlook remains weak

Driven by exports, economy grows in July-September for first time in 4 quarters

Employees work at a factory in Kawasaki, Japan. The country's July-September economic rebound marks the fastest pace of growth since the fourth quarter of 1968. © Reuters

MITSURU OBE, Nikkei staff writer

November 16, 2020 08:55 JST

Updated on November 16, 2020 15:00 JST

TOKYO -- Japan's economy rebounded in the July-September period following a deep slump caused by the coronavirus pandemic to mark its first expansion in four quarters, Cabinet Office data showed on Monday.

But the growth came short of making up for the contraction registered in the previous April-June quarter, when the economy came under a state of emergency as the government tried to contain the spread of the virus.