Japanese economy sees recovery from pandemic slump

TOKYO (AP) — The Japanese economy marked its second straight quarter of growth at the end of last year. It grew at an annual rate of 12.7% in October-December amid a recovery from the slump caused by the coronavirus pandemic. Government data showed the world’s third-largest economy saw growth in consumption, government spending and exports, compared to the previous quarter. 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 U.S. and other Asian nations. Still, Japan’s larger overall economic problems remain, such as sinking wages and declining international competitiveness.