Economy grows at faster pace than expected

Stimulus efforts: A man looks across the river at an industrial plant in Kashima, Ibaraki Prefecture. The government has yet to declare an exit from deflation and continues to opt for ample financial support to tame the impact of inflation on people. — Bloomberg

TOKYO: Japan’s economy grew at a faster pace than initially estimated, indicating more strength in the recovery as the central bank parses data ahead of a policy decision later this month.

Japan’s gross domestic product (GDP) grew at an annualised pace of 1.2% in the three months through September from the previous quarter, the Cabinet Office said yesterday.