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Japan's record GDP contraction revised down to annualized 28.1 pct in Q2

Xinhua News,TOKYO
2020-09-08 09:26

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TOKYO, Sept. 8 (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.
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