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Japan's GDP shrinks 2 percent year-on-year between January and March

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Tokyo, May 18 (EFE).- Japan’s gross domestic product (GDP) fell in the first quarter by 2 percent year-on-year, according to preliminary data published Monday by the government, representing the second consecutive quarter of economic contraction.Between January and March, the world’s third-largest economy fell by 0.9 percent compared to the last quarter of 2019, according to the first estimate made by the Cabinet Office with inflation-adjusted data.The GDP data provides the first estimation of the impact of the novel coronavirus pandemic on the Japanese economy, which accumulated drops in two consecutive quarters after falling by 0.7 percent year-on-year between October and December 2019 and 1.8 percent quarter-on-quarter.(Camera: FRANK ROBICHON).FOOTAGE SHOWS SHOPS AND STREETS OF TOKYO, JAPAN.

Added on the 18/05/2020 14:00:00 - Copyright : EFE Inglés

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