On May 18, the Government of Japan released the Quarterly Estimates of GDP for January - March 2020. Key messages include: The first quarterly GDP stood at minus 3.4%, which was not as bad as expected. The figure for the second quarter is said to be some minus 20%, which would be worse than that when we had the Great East Japan Earthquake in 2011. GOJ may soon lift the state of emergency off from Tokyo as the new infection cases decrease to 100 or less day to day. Cabinet Office of Japan https://www.esri.cao.go.jp/jp/sna/data/data_list/sokuhou/gaiyou/pdf/main_1e.pdf