TOKYO -- The Japanese economy shrank less than the U.S. and European economies did in the April-June quarter, but it fared worse than Asian counterparts. Japan's gross domestic product fell 7.8% in the second quarter of 2020 compared with the previous quarter, the worst drop on record in the period since 1980, when comparable data began to be available. The contraction was sharper than the previous record of minus 4.8% in January-March 2009 after the global financial crisis.

Source: Wall Street Journal August 17, 2020 00:33 UTC