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Japan Enters Recession With GDP Slumping by 0.6% Quarter-on-Quarter

© REUTERS / Issei Kato/File PhotoFILE PHOTO: Employees wearing protective face masks and face guards work on the automobile assembly line as the maker ramps up car production with new security and health measures as a step to resume full operations, during the outbreak of the coronavirus disease (COVID-19), at the Kawasaki factory of Mitsubishi Fuso Truck and Bus Corp., owned by Germany-based Daimler AG, in Kawasaki, south of Tokyo, Japan May 18, 2020
FILE PHOTO: Employees wearing protective face masks and face guards work on the automobile assembly line as the maker ramps up car production with new security and health measures as a step to resume full operations, during the outbreak of the coronavirus disease (COVID-19), at the Kawasaki factory of Mitsubishi Fuso Truck and Bus Corp., owned by Germany-based Daimler AG, in Kawasaki, south of Tokyo, Japan May 18, 2020 - Sputnik International
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MOSCOW (Sputnik) - The gross domestic product (GDP) of Japan has decreased by 0.6 percent in January-March of 2020 quarter-on-quarter, according to the government's statistics, indicating an economic recession amid the COVID-19 pandemic.

In the fourth quarter of 2019, the country's economy went down by 1.9 percent quarter-on-quarter. Two consecutive quarters of contraction are defined as a recession.

This is Japan's first recession since 2015.

French President Emmanuel Macron (L) welcomes German Chancellor Angela Merkel as she arrives for a working meeting at the Elysee Palace on febuary 27, 2019, in Paris - Sputnik International
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On an annualised basis, the country's economy has shrunk by 2.2 percent in the given period. Private consumption, accounting for up to 60 percent of Japan's GDP, has decreased by 0.8 percent.

The quarterly exports have gone down by 6 percent, while the imports have slumped by 4.9 percent.

As the COVID-19 epidemic has unfolded, many countries have adopted severe restrictions to stop the virus from spreading, weakening their economies in the process.

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