Economy
World / Countries / MNCs Japan's record GDP contraction revised down to annualized 28.1 pct in April-June quarter
Just Earth News | @justearthnews | 07 Sep 2020, 10:51 pm Print
Pixabay
Tokyo/Xinhua: 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.
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.
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.
More Economy
- Automobile giant Tesla likely to remove 10 percent of its workforce
- Crypto market tanks amid Middle East crisis
- Elon Musk's Tesla inks strategic deal with India's Tata Electronics to procure semi-conductor chips
- Apple plans to reduce 614 workers in California
- Tech major Apple to open its new Shanghai store on Thursday