Japan's economy shrinks annualized 3.4 percent in January-March periodChristian 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.
Adverse effects Japan factory
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. ■