Yogmaya

 

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 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..