Japan Economy Hits Bottom in May 2020: Govt

Economy

Tokyo, Nov. 30 (Jiji Press)--The Cabinet Office on Tuesday decided that Japan's economy hit bottom in May 2020, ending its most recent recession, which started in November 2018.

In the 19-month recession phase, the economy suffered one of its worst slumps since the end of World War II as the spread of the novel coronavirus slammed the brakes on economic activities.

The decision is based on a conclusion by a Cabinet Office panel of experts, headed by Rissho University President Hiroshi Yoshikawa, which judges when the economy has peaked or bottomed out.

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