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Global report: Japan hit by biggest GDP fall in 40 years, Australia suffers deadliest day
New Zealand postpones general election; US coronavirus death toll passes 170,000; Italy closes nightclubs for three weeks
Japan’s economy has been hit by the worst economic contraction in its modern history as the coronavirus pandemic closed businesses and buffeted consumer spending. It came as New Zealand postponed its general election for a month as its Auckland Covid cluster grew and Australia suffered its deadliest day of the pandemic.
Gross domestic product in Japan shrank a record 7.8% in April-June, which equates to an annualised rate of 27.8%, marking the biggest decline since comparable data became available in 1980.
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