Gross domestic product gdp is the aggregate monetary

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Gross Domestic Product (GDP) is the aggregate monetary or consumer value of all finished goods and services manufactured over a given period of time within a country's borders. As a comprehensive scorecard of a nation's economic health, it serves as a major indicator of total domestic output. Real Gross Domestic Product (RGDP) is a modified inflation index that reflects the cost of all goods and services produced by a product. Real GDP is a monetary measure of the value of the final products and services generated over a given period of time within the borders and within a country: GDP = consumption + production + government spending + net exports (exports-imports). Japan's Gross Domestic Product (GDP) contracted 5.80 percent in the third quarter of 2020 over the same quarter of the previous year according to the website Trading Economics. As the data can be seen below [ CITATION Jap \l 1033 ] "Japan's economy also bounced from July to September (2020) according to the report, which was then followed by a deep recession due to the coronavirus pandemic to mark its first expansion in four quarters, Cabinet Office data showed on Monday. However, Japan's short economic growth will not compensate for the contraction that occurred in Japan in the previous
quarter, i.e. From April till June (2020). The dramatic economic downturn in Japan during that time is most likely due to the Japanese government's attempts to control the spread of the virus during the initial virus outbreak. In the third quarter, the commonly used indicator of economic activity in the world, i.e. the Gross Domestic Procuct (GDP) of the nation, grew 5.0 percent from the previous three-month period, which expanded at an annualised rate of 21.4 percent. The output from July to September was driven by growth in exports, such as cars to the U.S. and semiconductors to China. The work from home idea is commonly used across the globe, including Japan, due to the definition and Covid-19 safety steps. This ultimately led to an increase in demand for semiconductors and services for cloud computing. In addition, Japan's government has also launched an estimated 1,000 cash handout initiative for each resident in Japan, which subsequently boosted consumer goods spending, including big-ticket products such as air conditioners. Nevertheless, in the U.S., Europe and Japan, a revival of coronavirus infections is throwing a shadow over the outlook for further recovery. Economists have projected that the rate of economic recovery will decrease as a consequence of the decrease in Japan's exports during the October-December quarter due to another lockdown in Europe. Japan's economy has only recovered around 56% of what was lost in April-June, and only 43% in the past three years. The slower rate of recovery means that Prime Minister Yoshihide Suga, who took over as the leader of the nation on Sept. 16 from Shinzo Abe, has his job cut out for him.

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