TOKYO -- Japan's economy shrank 7.8% in April-June from the preceding quarter, or at an annualized pace of 27.8%, the Cabinet Office said Monday, as private consumption and exports bore the brunt of the coronavirus pandemic.
The third consecutive decline on the quarter was also Japan's biggest under gross domestic product data going back to 1955, exceeding the country's 4.8% drop in January-March 2009 in the wake of the Lehman crisis.
