3/26, 10:49 AM (Source: TeleTrader)
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Japan's economic conditions 'severe' - govt

Japanese government downgraded on Thursday its economic assessment for March, warning that the country's economy is "extremely depressed" by the coronavirus pandemic.

The conditions will likely remain severe according to Tokyo. The economy is worsening at a pace comparable to 2011 and slowing towards levels last seen during the 2008 economic crisis.

The damage is as bad as those two events put together, the government said.

Breaking the News / MD