Japan’s economy shrank slightly less in the April-June quarter than that of the U.S., but economists said it still had a long way to go before recovering from the coronavirus pandemic and a tax increase. Gross domestic product in Japan fell 7.8% in the second quarter of 2020 compared with the previous quarter, the worst drop on record in the period since 1980, when comparable data began to be available. The contraction was sharper than the previous record of minus 4.8% in January-March 2009 after the global financial crisis. “We will continue to take all possible policy measures to bring the economy—which likely bottomed out in April and May—back to a growth path led by domestic demand,” Economy Minister Yasutoshi Nishimura said Monday. The new coronavirus forced many retailers and other businesses to close during a state of emergency in April and May and blocked virtually all foreign tourists […]