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Japan's economy shrinks annualized 3.4 percent in January-March period

Christian Fernsby ▼ | May 18, 2020
Japan's economy shrank for a second straight quarter in the January-March period, as a result of the adverse effects of the coronavirus pandemic, the government said in a report on Monday.
Japan factory
Adverse effects   Japan factory
According to the Cabinet Office, the economy shrank by an annualized real 3.4 percent in the January-March period from the previous quarter.

Topics: Japan

The decrease in the quarter corresponds to a 0.9 percent decline on a seasonally adjusted quarterly basis, the Cabinet Office said.

The preliminary reading of inflation-adjusted gross domestic product comes on the heels of a contraction logged in the previous October-December quarter.


 

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