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Japanese Economy Contracted By 27.8 Percent
According to data released by the government, the Japanese economy contracted by 27.8 percent in the April - June period, above expectations.
Yazar: Tom Roberts
Yayınlanma: 17 Ağustos 2020 21:06
Güncellenme: 3 Mayıs 2024 02:49
Japanese Economy Contracted By 27.8 Percent
According to data released by the government, the Japanese economy contracted by 27.8 percent in the April - June period, above expectations. The main factor in the contraction was the falling consumption and trade due to the coronavirus. It was noted that the recovery of the economy depends on the increasing course of infection. While the Japanese media pointed out that the decline is the worst data since World War II, the biggest shrinkage so far stands out as 18 percent, which came with the global crisis in 1955, according to official data. According to the data, while Japan's seasonally adjusted gross national income decreased by 7.8 percent on a quarterly basis, Japan entered into a technical recession with a contraction for three consecutive quarters. As will be remembered, the Japanese economy contracted 1.8 percent in the last quarter of 2019 and 0.6 percent in the first quarter this year. In the April - June period, Japan's exports fell by 56 percent, while individual consumption decreased by 29 percent, but since this data does not include businesses that were closed due to the epidemic, it is stated that the situation may worsen after the number of cases worsened last month. Following the break of the virus, analysts highlight the fact that Japan's export-based economy includes a serious dependence on China's growth, while expecting a gradual recovery in the economy.İLGİLİ HABERLER
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