Japan’s economy to shrink 4.7%, says central bank
A pedestrian stands in front of a stock market indicator board in Tokyo on 15 June. – EPA pic, July 15, 2020.
JAPAN’S economy will contract 4.7% in the year to March 2021, the central bank said today, projecting a recovery the following year but warning deep uncertainty remains. The fresh outlook, with policymakers giving a range of shrinkage from 5.7-4.5%, is a downgrade from an April projection of a 5.0-3.0% contraction.
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