Japan’s Economy Fell Into Recession in First Quarter of 2020

TOKYO—Japan’s economic system fell into a economic downturn by one particular common definition in the

TOKYO—Japan’s economic system fell into a economic downturn by one particular common definition in the very first quarter of 2020, with worse predicted in the present-day quarter.

The world’s third-biggest economic system right after the U.S. and China shrank an annualized three.four% in the January-March period of time, pushed down by the initial effects of the coronavirus pandemic. That followed a revised seven.three% contraction in the past quarter that was triggered by an improve in the nationwide gross sales tax. Two straight quarters of contraction is one particular definition of a economic downturn.