Japan's government adjusts GDP growth estimates

Economy/International

25-12-2024, 18:24

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Followed by-INA

Japan's latest economic outlook report revealed on Wednesday that the government has revised its estimates for the country's GDP growth rate in 2024.

According to the new economic outlook report, the Japanese government has revised its GDP growth forecast negatively to 0.4%, down significantly from its previous forecast of 0.7% in the previous report.
The report explained that the government made this revision against the backdrop of the negative repercussions of the problems that have affected the Japanese auto industry sector in the recent period, in addition to the decline in the country's exports, coinciding with the slowdown that has affected the Chinese economy.
However, the Cabinet kept its estimates for Japan's GDP growth rate in 2025 unchanged at 1.2%, and left its inflation forecast for 2024 unchanged at 2%.