2.6 JAPAN

In Japan, a state of emergency and pre-emergency measures were issued during most of the period between the beginning of 2021 and the end of September. As a result, the slump has continued since the beginning of 2021. According to Cabinet Office, Government of Japan, in the July to September quarter decreased by an annualized quarter-on-quarter growth rate of 3.6%. After the release of the state of emergency in October, vaccination has progressed and the num ber of newly infected people has remained low. Domestic economic activities are resuming, including the foodservice and hotel industries. The growth rate for the October to December quarter in 2021 and the January to March quarter in 2022 is expected to reach an annual rate of 3 to 4%. However, as the Omicron variant was discovered at the end of November, a new outbreak could reinforce restrictions on economic activity. Coexistence with the COVID-19 will continue in 2022.