MONTHLY ECONOMIC REPORT: JAPANESE ECONOMY WORSENS RAPIDLY IN AN EXTREMELY SEVERE SITUATION

Highlights

• Exports were revised downward for the second straight month
• Employment situation was revised downward for the third straight month

On Thursday, the government released its monthly economic report for May. It described the Japanese economy as ‘worsening rapidly in an extremely severe situation’ owing to the spread of the novel coronavirus.

For April....