Japan buckles up for big GDP slump, impact of epidemic

The Straits Times | Feb 14, 2020 at 9:00 PM
  • TOKYO • Japanese braced themselves yesterday for the biggest economic contraction since 2014 at the end of last year, even as policymakers warned of the hit to come from the coronavirus outbreak, signalling alarm over a darkening outlook for the world’s third-largest economy.
  • Analysts polled by Reuters expect Japan’s economy to have shrunk an annualised 3.7 per cent in the October-December quarter.
  • Some analysts expect Japan’s economy to suffer another contraction in the current quarter as the virus outbreak hurts exports, output and consumption through a sharp drop in overseas tourists.