Japan cuts its growth forecast for the fiscal year to 0.7% due to slow auto export recovery.

Japan has revised its growth forecast for the current fiscal year, reducing it to 0.7% from 0.9% due to slow recovery in automobile exports linked to certification issues. This marks a slight decline from last year's growth of 0.8%. Consumer prices are expected to rise by 2.6%. For the next fiscal year, the government anticipates a growth of 1.2%, supported by increased private consumption and stable corporate investment.

November 01, 2024
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