"Valley of the economy" was certified by the Cabinet Office under the state of emergency in May last year.

The Cabinet Office has confirmed that the recessionary phase that began three years ago in November was the most depressed "valley of the economy" in May last year, when an emergency declaration was issued due to the spread of the new corona infection. ..

The Cabinet Office has decided on the timing of economic recovery and recession by a study group made up of experts, and the Japanese economy has entered a recession phase from November 2018, three years ago, against the backdrop of trade friction between the United States and China. It is said that.

At the meeting on the 30th, we examined how long this recession had lasted and determined that May last year was the most depressed "valley of the economy" as a recession.

At a time when the new Corona was declared a state of emergency nationwide and the employment situation and corporate production deteriorated significantly, the period of this recession was one year and seven months, the fourth longest after the war.

It is considered that the economy has entered a recovery phase after June last year, which is the month following the "valley", but the recovery is strong, as the growth rate of GDP = gross domestic product from July to September is negative. The state of lacking continues.

After the meeting, President Hiroshi Yoshikawa of Rissho University, who chairs the study group, said, "The recovery after the economic valley is quite steep compared to the past recovery period, but the current situation is stalling." Showed recognition.