The Japanese government has revised up its expectations for economic growth this fiscal year Tuesday, since strong exports as well as consumer spending supported by advancement in vaccines, they are poised to bring the economy back to pre-pandemic levels by the end of this year.
Key comments
“The government now forecasts that during the fiscal year until the end of March, the economy will grow 3.7% and at some point the real gross domestic product (GDP) will exceed the 547 trillion yen (4.9 trillion dollars) marked in October. -December 2019 “.
“Japan’s recovery will be moderate in the first half of this fiscal year, but will accelerate in the last half due to steady gains in exports and capital spending,”
“There would also be a rebound in spending on services.”
“Growth for the next fiscal year is expected to slow to 2.2% as the pace of exports moderates.”
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