Japan braces for worst postwar economic slump, pandemic tests response

Topics Japan | Shinzo Abe | Coronavirus

Japan's economy braced for its worst postwar slump even as first-quarter GDP contracted less than initially thought, as the cornonavirus crisis slams the brakes on global growth and raises pressure on Tokyo to cushion the blow to business and consumers.

Banks are doing their bit to help as lending rose at the fastest annual pace on record in May, a sign companies were tapping loans to meet immediate funding needs to survive slumping sales from the pandemic. While US and European policymakers have shifted from crisis-response to.....

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