May 18, 2020 / 12:43 AM / in 12 days

Japan's economy to slump significantly due to pandemic: economy minister

FILE PHOTO: Japan's new Economy Minister Yasutoshi Nishimura arrives at Prime Minister Shinzo Abe's official residence in Tokyo, Japan September 11, 2019. REUTERS/Issei Kato/File Photo

TOKYO (Reuters) - Japan’s economy is expected to slump significantly due to sluggish overseas demand blamed on the coronavirus pandemic, Economy Minister Yasutoshi Nishimura said on Monday.

“Both domestic and external demand show Japan’s economy is in a severe state,” Nishimura told a news conference after the release of first-quarter gross domestic product (GDP) data.

Reporting by Leika Kihara; Editing by Chang-Ran Kim

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