the Japanese economy has slipped into recession for the first time in four and a half years in the first quarter and may go through severe in the postwar history of the decline due to the impact of the pandemic coronavirus by companies and consumers.
Data on GDP for the first quarter, released on Monday, underscored the growing influence of the flash, while exports fell by 6% - the most since the devastating earthquake in March 2011 because of the global Loktionov and interruptions in the supply chain.
Analysts warn about an even more dismal picture in the current quarter due to the fall in consumption on the background of the quarantine.
"there is little doubt that the economy suffered a deeper recession in the current quarter," said Yuichi Kodama, chief economist at Meiji Yasuda Research Institute. – "Japan entered into a full-blown recession".
the Third largest economy in the world fell by 3.4% in the first quarter year on year, showed official data on the GDP, while the markets on average were expecting a fall of 4.6%.
the Decline in the first quarter followed an even sharper decrease of 7.3% in October-December. Economic contraction for two consecutive quarters meet the technical definition of a recession. In recent times, the recession in Japan was recorded in the second half of 2015.
Private consumption, which accounts for more than half the economy of Japan volume of $5 trillion, decreased by 0.7% in the first quarter, while markets were expecting a fall of 1.6%.
the Largest electrometallurgical company in the country, Tokyo Steel Manufacturing Co said that in June the prices of its steel products will remain unchanged, as it will take some time to see the recovery of demand in sectors affected by coronaries.
