• Kyodo

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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.

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