TOKYO—Japan’s economy likely grew at a slower pace than previously expected last quarter and faces ongoing risks from soaring raw material prices and coronavirus-linked production and supply disruptions, a Reuters poll of economists showed on Friday. Government and central bank policymakers are hoping a jump in consumer activity put the export-reliant economy firmly on a recovery path after Japan saw COVID-19 case numbers plummet and made progress on vaccinations. Analysts, however, warned of risks such as an unexpected economic slowdown in China and semiconductor chip and factory parts shortages due to the pandemic. “There is a risk problems due to supply chain disruption will last longer, putting downward pressure on the global economy,” said Harumi Taguchi, principal economist at IHS Markit. Japan’s economy grew an annualised 0.8 percent in the third quarter, weaker than a 1.2 percent expansion projected last month, according to the median forecast of 39 analysts polled. …
Japan’s 3rd Quarter Growth Forecast Trimmed Further on COVID-19 Drag: Poll
October 15, 2021
admin
0 Comment