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Japan record GDP contraction revised down to annualized 28.1 pct in quarter

Christian Fernsby ▼ | September 8, 2020
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.
Japan street
Record GDP contraction   Japan street
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.

Topics: Japan record GDP contraction revised down to annualized 28.1 pct in quarter

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.


 

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