As was widely feared, the serious impact of the COVID-19 pandemic on the economy has become increasingly clear. The gross domestic product in the January-March period contracted an annualized 3.4 percent from the previous quarter. One out of four listed companies reportedly sustained losses in the three-month period to March.
But we have yet to see the worst of the recession. The full-blown impact of the pandemic will come in the April-June period, when, according to a Nikkei interview of four prominent economists, the nation’s economy is forecast to shrink by 20.2 percent.