Japan’s Economy Fell Into Recession in First Quarter of 2020

TOKYO—Japan’s overall economy fell into a economic downturn by a person prevalent definition in the initial quarter of 2020, with worse anticipated in the existing quarter.

The world’s third-biggest overall economy after the U.S. and China shrank an annualized 3.4% in the January-March time period, pushed down by the original results of the coronavirus pandemic. That followed a revised 7.3% contraction in the former quarter that was triggered by an improve in the countrywide revenue tax. Two straight quarters of contraction is a person definition of a economic downturn.

…