Japan’s GDP fell to a high record

News

Japan’s GDP fell to a high record

19.08.2020 News

In the second quarter of 2020, Japan’s economy shrank by 7.8% over the previous three months. Such preliminary official data was published by Trading Economics.

It is noted that the fall of GDP was recorded for the third consecutive quarter and became a record, due to the negative impact of the COVID-19 coronavirus pandemic.
At the same time, analysts, forecast in average, a 7.6% drop in GDP in the second quarter.

In annual terms, the Japanese economy in April – June fell by 27.8% with a forecast of a decline of 27.2%. In the first quarter, GDP fell by 2.2%.

Consumer spending in April – June fell by 8.2% in quarterly terms, compared with a decrease of 0.8% in the first quarter. Government spending decreased by 0.3% (previously unchanged).

Exports fell by 18.5% – the fall was the highest since the first quarter of 2009. Imports fell by 0.5%, falling for the third consecutive quarter.

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