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8/17/2020, 2:24 AM (Source: TeleTrader)
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Japan's GDP drops record 27.8% YoY in Q2

The gross domestic product (GDP) of Japan fell by 7.8% in the second quarter of 2020 compared to the previous three-month period, according to a preliminary estimate released by the country's Cabinet Office on Monday.

On an annual basis, the value of goods and services produced by the nation in the quarter saw a drop of 27.8%, which marked the biggest contraction since comparable data became available.

Additionally, the data showed exports plunging 18.5% compared to the last quarter results, with imports decreasing by 0.5% in the same time period.

Breaking the News / NL