• A government official noted that the pace and impact of the economy's deterioration are almost at the same level as those seen after the Great East Japan Earthquake and tsunami disasters in 2011 and the 2008 global financial crisis. | REUTERS
    A government official noted that the pace and impact of the economy's deterioration are almost at the same level as those seen after the Great East Japan Earthquake and tsunami disasters in 2011 and the 2008 global financial crisis. | REUTERS

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The government downgraded its key assessment of Japan's economy on Thursday, saying it was in a "severe situation" as the COVID-19 pandemic continues to wreak havoc domestically and globally.

In its monthly report for March, the Cabinet Office did not use the expression "recovering" to describe the domestic economic situation for the first time in over six years.

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