Japan economy shrinks at record 27.8% in April-June amid pandemic

Japan's economy in the April-June period shrank an annualized real 27.8 percent from the previous quarter, the sharpest contraction on record, as economic activity was restricted under a state of emergency during the novel coronavirus outbreak, government data showed Monday.The preliminary data on gross domestic product, the total value of goods and services produced in the country, correspond to a 7.8 percent decrease on a seasonally-adjusted quarterly basis, marking negative growth for the third consecutive quarter, according to the Cabinet Office.Comparable data are available since the A…READ FULL ARTICLE