Japan GDP to shrink 22% in Q2 in biggest postwar drop: forecast

Coronavirus spurs spending retreat by consumers and businesses

Commuters walk through Tokyo's Marunouchi business district. (Photo by Makoto Okada)

TOMOHIRO EBUCHI, Nikkei staff writer

May 1, 2020 03:18 JST

TOKYO -- Japan's economy is expected to contract by an annualized 21.7% during the April-June quarter, its worst showing since the end of World War II, as the coronavirus crisis sends business and consumer activity into an unprecedented stall, a Nikkei survey shows