Japan’s economy shrinks at record pace amid pandemic

Japan’s economy contracted at a record pace in the second quarter amid the coronavirus pandemic, according to government data released Monday. 

The nation’s economy shrank at an annual rate of 27.8 percent in April-June, which marks the worst contraction on record, The Associated Press reported, citing information released by the Cabinet Office. 

The government data reported Japan’s preliminary seasonally adjusted real gross domestic product fell 7.8 percent quarter on quarter, according to the newswire. 

The Cabinet Office said comparable records of drops began in 1980, according to the AP. The previous worst contraction in Japan was during the global financial crisis more than 10 years ago, the newswire noted. 

Japan slipped into recession in the first quarter of this year, after the economy shrank 0.6 percent in the January-March period and contacted 1.8 percent in the October-November period last year, according to the AP.