Japan slides into recession as economy shrinks 3.4%

Japan's economy in the January-March period shrank an annualized real 3.4 percent from the previous quarter due to the global coronavirus pandemic, a significant contraction for the second consecutive quarter that pushes the world's third-largest economy into recession, government data showed Monday.The data showed gross domestic product, the total value of goods and services produced in the country, corresponded to a 0.9 percent decrease on a seasonally adjusted quarterly basis.Japan now meets the technical definition of a recession of at least two consecutive quarters of negative GDP -- f…READ FULL ARTICLE