Chinanews, August 17th, a comprehensive report, the Japanese Cabinet Office released on the 17th the second quarter of 2020 gross domestic product (GDP) preliminary value shows that after excluding price changes, Japan’s actual GDP in the second quarter of this year was higher than the previous quarter. A decline of 7.8%, the converted adult rate fell by 27.8%, the worst decline since World War II.
On August 16, local time, Ginza Avenue, Tokyo's business district, there were fewer people on the street. Photo by China News Agency reporter Lu Shaowei
Takeshi Minami, the researcher and chairman of the second section of the CICC Research Institute of Agriculture and Forestry, said, “The decline in consumption and exports can explain this sharp decline.”
According to reports, the actual GDP for the second quarter of 2020 released by the Cabinet Office of Japan shows that personal consumption decreased by 8.2% from the previous quarter and exports fell by 18.5%.
It is said that in order to alleviate the impact of the epidemic on the economy, Japan has implemented large-scale fiscal and monetary stimulus measures. After the state of emergency was lifted at the end of May, the Japanese economy has reopened, but the rebound of the epidemic has cast a shadow over the prospects of corporate and household spending.