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A Japanese-style bar in Minato ward, Tokyo, is devoid of customers during the second state of emergency in January. Menus are placed in front of patrons that read ‘Let’s overcome the coronavirus!!’ at the top. THE YOMIURI SHIMBUN
Covid slams Japan consumer spending
Thu, 20 May 2021
Japan’s gross domestic product (GDP) contracted in the first three months of 2021 as state of emergency restrictions to combat the coronavirus pandemic sapped consumption. Steadily rolling out a vaccination programme could be crucial for giving the economy its own shot in the arm.
According to Cabinet Office figures released on May 18, GDP shrank in real terms for the first time in three quarters. Consumer spending was weak during that period due to the impact of the second state of emergency, declared by the government in January.