Japan sinks into recession with forecasts of worse to come as support for Abe hits two-year low

Japan dived into its first recession since 2015, according to official data on Monday, with the world’s third-largest economy shrinking by 0.9 per cent in the first quarter as it wrestles with the fallout from the coronavirus.The drop in gross domestic product followed a 1.9-per cent decline in the fourth quarter of 2019 as a tax hike and typhoons hit Japan hard – even before the pandemic shut down much of the economy.Japan lifts emergency in most areas, but is it really out of the woods?A…

from South China Morning Post https://www.scmp.com/news/asia/east-asia/article/3084808/japan-sinks-recession-forecasts-worse-come-support-abe-hits-two