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The Japanese economy experienced a record slump. en coronavirus not only weakened exports Companies and markets

Such The Japanese economy contracted a record high in the second quarter due to the effects of the new coronavirus. Gross domestic product (GDP) fell by 27.8 percent for the whole year, which is the deepest decline since 1980, when these data began to be monitored now. The Japanese government announced this on Monday. en coronavirus paralyzed both export and consumption.


Economists, however, are now showing a slight recovery in the Japanese economy. According to them, the consumer is looking for data in view of the new cases of the disease.

Analysts expected that the GDP of the world’s largest economy in the second quarter in the spot for the whole year will be 27.2 percent. Compared to previous months, the economy fell by 7.8 percent. The farm fell at the aunts a quarter behind.

Private consumption, which accounted for more than half of Japan’s economic growth, fell 8.2 percent from April to June. Analysts forecast a decline of 7.1 percent. Capital expenditures fell sharply against the share, by 1.5 percent.

External demand reduced gross domestic product by three percentage points. The pandemic dampened global demand.

The resulting growth is from July to September

The big decline can be explained by a decline in consumption and exports, said Reuters economist Takei Minami from the Norinchukin Research Institute. Oekvm, in the quarter from July to z, a hole to grow. He is slowly coming to life outside the world, he added.

Those quarters of the economic downturn reduced the size of real GDP to 485 trillion yen (100 trillion K), which is the minimum since the second calendar quarter of 2011.

This erased the benefits of the economic program called Abenomics, which in 2012 introduced the premier inz Abe. Its main points are relaxed monetary policy, fiscal support through government expenditure and structural reforms.

Although the decline in GDP for the second quarter is weaker than in the United States, where it was 32.9 percent, it is sharply less than 17.8 percent from the first quarter of 2009. At that time, the global economy was recovering from the impact of the collapse of US investment bank Lehman Brothers and the ensuing financial crisis.



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