Japan’s gross domestic product plummeted an annualized 27.8 percent on year in the second quarter of 2020, the Cabinet Office said on Monday’s preliminary report.
That missed expectations for a decline of 27.2 percent following the 2.2 percent drop in the previous three months.
On a seasonally adjusted quarterly basis, GDP sank 7.8 percent - again missing forecasts for a fall of 7.6 percent following the 0.6 percent slide in the three months prior.
Capital expenditure was down 1.5 percent on quarter, which beat expectations for a fall of 4.2 percent following the 1.7 percent increase in Q1.
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