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Top 5 Financial Market News Today | 8 June 2020 Market News
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Japan’s GDP Shrinks Less Than Estimated. Japan’s economy contracted less than initial estimation made last quarter, after revisions showed stronger capital investment, even as the coronavirus pandemic pushed the country into a recession. The Cabinet Office’s revised report on Monday showed gross domestic product shrank an annualized 2.2% compared with the last quarter of 2019, better than an initial estimate of a 3.4% contraction. Economists had an expected revision to minus 2.1%. The result still means Japan’s economy has shrunk for a two straight quarters with an even sharper drop expected in the April-June period. Even before the revision was released, economists were casting doubt on its accuracy. Japan revises its preliminary GDP data to incorporate investment figures from a business survey that’s published later. This time, a low response rate amid the pandemic may have skewed the results, the finance ministry said this month after the survey showed an unexpected gain in
Top 5 Financial Market News Today | 1 June 2020
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Top Financial Market News Today 1 June 2020 1. China Warns It Will Retaliate On Moves Over Hong Kong By The US. 2. Oil Prices Edge Up Ahead Of Upcoming OPEC+ Meeting. 3. China Halts Few U.S. Agri Purchases Due To Hong Kong Tensions. 4. Emirates President States Could Take 4 Years To Rebuild The Network. 5. Japan's April Tax Revenues See Biggest Monthly Drop In Over 10 Years..