Coronavirus: Japan suffers its biggest economic slump on record
17 August 2020

The Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic.

The world’s third largest economy saw gross domestic product fall 7.8% in April-June from the previous quarter, or 27.8% on an annualised basis.

Japan was already struggling with low economic growth before the crisis.

The figures released on Monday are a stark reminder of the severe financial impact faced by countries around the world.

Japan slipped into recession earlier this year following two successive quarters of economic contraction.

Its latest data for the April to June quarter was the biggest decline since comparable figures became available in 1980 and was slightly bigger than analysts had expected.

Coronavirus: Japan suffers its biggest economic slump on record - BBC News