Contraction predicted for Japan's GDP

Posted by On 4:37 PM

Contraction predicted for Japan's GDP

Contraction predicted for Japan's GDP Contraction predicted for Japan's GDP

Most private researchers believe Japan's GDP contracted in the July-September quarter, pushed down by a series of natural disasters. That would be the first negative growth in 2 quarters.

10 research institutes have released projections. Their annualized figures range from minus 2.1 to plus 0.1 percent. All but one are predicting a negative number.

The institutes believe a series of typhoons and a powerful earthquake in the northern main island of Hokkaido hurt spending by foreign tourists as well as exports. A storm in September shut down Kansai International Airport, a major hub in western Japan.

The researchers believe a dip in GDP would be temporary and that Japan's economy continues to recover moderately. But many say the deepening trade friction between the US and China remains a broader concern.

Official data will be out on November 14th.

Source: Google News Japan | Netizen 24 Japan

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