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Economy

Japan's October GDP grows 1.1%, hitting 12-month high: JCER

Recovery in car production and lifting of COVID restrictions improve consumption

A recovery in automobile production is one of the main drivers for Japan's economic expansion in October.   © Reuters

TOKYO -- Japan's inflation adjusted gross domestic product gained 1.1% in October from the previous month, the Japan Center for Economic Research said Tuesday.

The monthly economic growth, the highest in the past 12 months, was driven by the government's lifting of the COVID-19 state of emergency at the end of September and the recovery in production by carmakers, JCER said in a statement.

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