Covid reduces the size of Japan’s first quarter
Japan’s economic performance fell 1.3% in the first quarter of 2021, down 5.1% on an annual level, as the new Covid-19 small government spending budget.
The descent was a little bad than analysts expect a decrease of 1.2%, indicating a return on the decline after the recession extension in the last section of 2020.
The decline in production shows that much of Asia’s economy is slowly recovering from the epidemic Attractive output coronavirus vaccine.
With major cities in Japan still banned from spreading the spread of Covid-19, the economy could continue in the second quarter, prompting economists to reduce forecasts for year-round growth.
“We still have a little bit left to turn the entire 2021 GDP year into action,” said Rob Carnell, head of Asia-Pacific research at ING. Most researchers had predicted a growth rate of more than 3 percent, but to get there they need a second major interest rate.
Japan is probably lagging behind the economies of Europe and the US, where rapid vaccine production combined great economic attraction under the leadership of President Joe Biden has helped speed up recovery.
Japan has declared emergency Covid-19 state of emergency in early January, which was raised until March, which has a significant economic impact in the first quarter. Under emergency notice, people were asked to work from home if possible and the restaurant was advised to close at 8pm.
Another an urgent situation began in late April, but has failed to address the issue, and Japanese authorities have increased the number of bans.
The disease is moving around 6,000 a day, the highest since the beginning of January. Medical systems in some parts of the country are suffering.
The main reason for improving public health is the delay in the development of vaccines. Japan has given the first rate to 4.4m, only 3.5 percent of the population, making it one of the slowest distribution in the world.
Weakness was widespread across the economy in the first section. Consumer spending of 0.7 percent on wholesale and corporate business contributed 0.2 percent, reduction in government spending and exports are also relatively low.
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