The Japanese economy is going through difficult times
The decline was recorded for the third consecutive quarter and was a record that due to the negative impact of the pandemic COVID-19.
For the second quarter of 2020, Japan’s economy declined by 7.8 percent the previous month. Such preliminary official data published by Trading Economics on Monday, August 17.
Indicated that the decline was recorded for the third consecutive quarter and was a record that due to the negative impact of the pandemic coronavirus COVID-19. The analysts predicted the decline in GDP in the second quarter of 7.6%.
In annual terms, the Japanese economy in April-June fell by 27.8% against the forecast of decline by 27.2%. In the first quarter GDP fell by 2.2%.
Consumer spending in April-June fell 8.2% in quarterly terms, compared with a decline of 0.8% in the first quarter. Government expenditure decreased by 0.3% (previously unchanged).
Exports fell 18.5 percent drop was the highest since the first quarter of 2009. Imports fell by 0.5% decrease was observed for the third consecutive quarter.
Earlier it was reported that unemployment in Japan reached its peak in 2017 – up nearly 3% of the total working-age population.
It also became known that in Japan will spend $300 billion to support business and population. The volume of the package to support the national economy and population in the conditions of a pandemic had increased to nearly $1.1 trillion.