Economy
Japan's record GDP contraction revised down to annualized 28.1 pct in April-June quarter

Just Earth News | @justearthnews | 07 Sep 2020 Print

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Japan's record GDP contraction revised down to annualized 28.1 pct in April-June quarter

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Tokyo/Xinhua: Japan's economy in the April-June period shrank an annualized real 28.1 percent from the previous quarter, downwardly revised from the 27.8 percent contraction initially reported, the government said in a report on Tuesday.

According to the Cabinet Office, the decline in real gross domestic product equates to a 7.9 percent decrease on a seasonally adjusted quarterly basis.

The original preliminary data showing the world's third-largest economy had shrunk 27.8 percent last month marked the sharpest contraction since record keeping began, with the recession expanding to a third straight quarter, the office said.