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Economy

Japan's GDP dips 0.5% in May: JCER

Economy stanches bleeding from coronavirus but continues to shrink

The GDP decline in May was smaller than the 6% drop in April.

TOKYO -- Japan's inflation-adjusted gross domestic product declined 0.5% on the month in May, data released Wednesday by the Japan Center for Economic Research shows.

Though this marked a third straight month of contraction, the fall was far smaller than the 6% plunge in April.

Housing investment slumped 8.1%, and capital spending dropped 4.4% due to the continuing impact of the coronavirus pandemic.

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