Register for Digital Look

Japan downgrades GDP growth forecast

By Benjamin Chiou

Date: Friday 01 Nov 2024

Japan downgrades GDP growth forecast

(Sharecast News) - Japan's Cabinet Office has cut its economic growth predictions for the second time in four months as slowing global demand weighs on exports.
The government now expects GDP to expand by just 0.7% during the current fiscal year to March 2025. This marks a downward revision from 0.9% in July, when it made a similar downgrade.

The forecast for a 1.2% economic expansion the following year was left unchanged.

Current GDP forecasts for the calendar third quarter are pointing to a 0.7% annual expansion, a massive slowdown from the 2.9% growth seen in the second quarter.

The Cabinet Office's revision came just one day after the Bank of Japan unanimously decided to leave benchmark interest rates unchanged at 0.25%,

Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange Market.

..

Email this article to a friend

or share it with one of these popular networks:


Top of Page