Japan’s economy shrank more than estimated in Q2

Japan's household spending in July drops to 7.6% on-year, underlining the impact of the coronavirus on the economy. – EPA pic, September 8, 2020.

JAPAN’s economy shrank slightly more than initially thought in the April-June quarter, official data released today showed, deepening a contraction that was already the worst in the nation’s modern history.

The world’s third-largest economy shrank 7.9% in the second quarter of this year from the previous quarter, more than the initial 7.8% in the preliminary data, the Cabinet Office said.

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