COVID-19 Pandemic Impacted Japan’s Q12020 GDP; Economy Contracted 3.4% Annualised

May 18, 2020 12:21 PM AEST
Team Kalkine

Japan in Q1 2020 reported a drop in its economic growth due to coronavirus pandemic. The economy contracted at an annualised rate of 3.4% in during the first quarter.

On QoQ basis, the GDP shrank by 0.9% in between January to March 2020 against the median forecast for a 1.2% decline.

Private consumption dropped 0.7%, the capital spending by 0.5% and export by 6%.

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