Japan's economy in the April-June period shrank an annualized 27.8 percent in real terms from the previous quarter, the sharpest contraction on record, as economic activity was restricted under a state of emergency during the coronavirus outbreak, government data showed Monday.
The preliminary gross domestic product data corresponds 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 April-June quarter of 1980, but a Cabinet Office official said the latest figure is considered the largest shrinkage on record dating back to 1955, when reference values can be traced to.