Mexican Media Brands
Japan Slashes Economic Growth Forecast
Japan, which previously predicted its gross domestic product would expand 1.7% in the current fiscal year, now anticipates annual growth of only 0.9% growth.
#economics
Share
Japan, which previously predicted its gross domestic product would expand 1.7% in the current fiscal year, now anticipates annual growth of only 0.9% growth.
The government also expects inflation for the year ending March 31 to rise 0.4%, one-third its previous forecast. Reports say Prime Minister Shinzo Abe is developing a new economic stimulus package worth as much as 20 trillion yen ($192 billion).
Abe has struggled to sustain economic growth in Japan. Last month he said he will delay plans to raise the country’s sales tax to 10% from 8%. He also has been urging major employers to pay workers more to help stimulate consumer spending.
The Bank of Japan, which lowered its prime lending rate to -0.1% in January to stimulate lending, will meet later this month to ponder new steps measures to revive the economy.
RELATED CONTENT
-
Auto vs. Tech: Guess Who Wins
Matthew Simoncini, president and CEO of Lear Corp., provided some fairly compelling figures this week at the CAR Management Briefing Seminars that show just how out-of-whack the valuations of tech companies are vis-à-vis auto companies.
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data