Japan cuts growth forecast, prime minister warns of weak-yen pain

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TOKYO :Japan's government cut this year's growth forecast on Friday as consumption took a hit from rising import costs due to a weak yen, highlighting the fragile nature of the economic recovery.

The government expects the economy to grow 1.2 per cent in fiscal 2025, the estimates showed.

The government releases its economic growth forecasts in January and then revises them around July.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJapan

Topics: Fiscal Growth Japan Economic Meeting Cent Weak Government Year Forecast Consumption

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-19 @ 10:20:35 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 470 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21680630

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