Japan's economy suffers record 27.8% contraction in April-June

The preliminary reading for second-quarter gross domestic product (GDP) compared with economists' median estimate of a 27.2% decline, the data showed. It was the third straight quarter of contraction. On a quarter-on-quarter basis, GDP shrank 7.8% in April-June, compared with the median forecast for a 7.6% decline, the data showed.

Japan's economy shrank an annualised 27.8% in April-June to mark the sharpest contraction on record, government data showed on Monday, underscoring the pain the COVID-19 pandemic inflicted on the world's third-largest economy. The preliminary reading for second-quarter gross domestic product (GDP) compared with economists' median estimate of a 27.2% decline, the data showed. It was the third straight quarter of contraction.

On a quarter-on-quarter basis, GDP shrank 7.8% in April-June, compared with the median forecast for a 7.6% decline, the data showed. For the poll story:

For the tables: https://www.esri.cao.go.jp/en/sna/sokuhou/sokuhou_top.html