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Japan's economy shrinks 5.1% as pandemic dries up spending

Japan city Tokyo pandemic vaccine economy
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TOKYO – The Japanese economy contracted at an annual rate of 5.1% in January-March, slammed by a plunge in spending over the coronavirus pandemic, according to government data released Tuesday.

The Cabinet Office’s preliminary seasonally adjusted GDP, or gross domestic product, showed household consumption dropped at an annualized rate of 5.6%, while government spending declined 6.9%.

Gross domestic product is the sum value of a nation’s products and services. The annualized rate shows what the rise or drop would have been if that same pace had continued for a year.

Much of Japan has been under a state of emergency, centered around early closures of restaurants and bars, to curb the spread of the virus at places where crowds gather.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
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Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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