The Japanese economy recorded its first growth in three quarters, the government said Monday, taking the country out of a brief recession, dpa reported. The economy expanded at an annualized rate of 2.2 per cent in the October-to-December period. Japan fell into recession in the third quarter following a controversial increase in sales tax in April. Private consumption, which makes up 60 per cent of the economy, rose 0.3 per cent quarter-on-quarter, while corporate investment edged up 0.1 per cent after falling 0.1 per cent in the July-to-September period, the Cabinet Office said in a preliminary report. Exports climbed 2.7 per cent from the previous three-month period, compared with a 1.5-per-cent increase in the previous quarter, while imports grew 1.3 per cent. Residential investment fell 1.2 per cent quarter-on-quarter, after plunging 10.3 per cent in the second quarter and 7.0 per cent in the July-to-September period.
