Japanese economy shrinks record 27.8% in April-June

Japan's economy shrank an annualized 27.8 percent in the April-June quarter, the worst contraction in the nation's modern history, as the coronavirus deepens its economic woes.

The contraction from the previous quarter was slightly worse than expectations but less severe than declines seen in many other industrial economies.

Still, it is the biggest economic contraction for Japan since comparable data became available in 1980, beyond the brutal impact of the 2008 global financial crisis.

Some analysts labelled it the worst fall since World War II, though a change in calculation methods in 1980 makes the comparison complicated.

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