Japan
Japan's record GDP contraction revised down to annualized 28.1 pct in April-June quarter
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.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
