A man wearing a face mask to help curb the spread of the coronavirus rides a bicycle in front of an advertisement of Tokyo 2020 Olympic Games in Tokyo on Tuesday (May 12). Japan is still under a coronavirus state of emergency, which was extended this week until the end of May, though there have been no hard lockdowns. - AP
TOKYO: A key economic indicator in Japan fell at the fastest pace since 2011 in March and the government warned of a deep recession as the Covid-19 (coronavirus) crisis takes a heavy toll on business activity and consumer spending.
In Tuesday's coincident indicator index report, the government maintained its view that the economy was "worsening" in March, backing other data during that month and in April which paint a bleak outlook.
Limited time offer:
Just RM5 per month.
