Expanded emergency to shrink Japan's GDP by 2.1 tril. yen: estimate

An expansion of Japan's latest state of emergency over the coronavirus pandemic into three western prefectures is likely to decrease the country's economy by 2.1 trillion yen ($20.1 billion), or 0.4 percent of annual gross domestic product, according to an economist.Toshihiro Nagahama, chief economist at the Dai-ichi Life Research Institute, made the estimate as Prime Minister Yoshihide Suga plans to include Osaka, Kyoto and Hyogo prefectures in areas subject to the declaration as early as Wednesday.Effective from last Friday through Feb. 7, the emergency declared in Tokyo and three neighbo…READ FULL ARTICLE