Japan's 2020 GDP shrinks real 4.8%, 2nd worst on record amid pandemic

Japan's economy contracted 4.8 percent in real terms in 2020 from the previous year, the second sharpest contraction on record, reflecting the impact of the novel coronavirus pandemic, government data showed Monday.Real gross domestic product, the total value of goods and services produced in a country adjusted for inflation, marked the first decrease since it shrank 5.7 percent in 2009, the largest contraction since data began to be compiled in 1955, according to the preliminary figures released by the Cabinet Office.The negative growth in 2009 was logged in the wake of the global financia…READ FULL ARTICLE