The Japanese government on Tuesday maintained its assessment that the economy in May was "worsening," with its index of business conditions dropping to the lowest level in nearly 11 years.
According to the Cabinet Office, the coincident index of business conditions for the recording month dropped 5.5 points from April to 74.6 against the 2015 base of 100, the worst since 2009 in the aftermath of the global financial crisis.
The decline was the fourth largest since comparable data became available in January 1985, while its level of 74.6 was the seventh lowest, the government's figures showed.
The figure retreated for the fourth consecutive month, the office's data showed, and came on the heels of a 8.7-point decline logged in April.
According to local media, the data reflected the magnitude of the economic fallout from a nationwide state of emergency over the COVID-19 outbreak.
The government first declared a state of emergency for Tokyo and other urban areas in early April and later expanded it to cover the whole country. During the emergency period through May 25, businesses shuttered operations and people were requested to refrain from making nonessential trips outdoors in a bid to prevent the further spread of the virus.
With new cases of COVID-19 emerging in Tokyo and other areas, public concerns over a second wave of infections are again weighing on the full resumption of business.
Source: Xinhua |
