Japan's Cabinet Office has cut its economic growth predictions for the second time in four months as slowing global demand weighs on exports.
Source: Sharecast
The government now expects GDP to expand by just 0.7% during the current fiscal year to March 2025. This marks a downward revision from 0.9% in July, when it made a similar downgrade.
The forecast for a 1.2% economic expansion the following year was left unchanged.
Current GDP forecasts for the calendar third quarter are pointing to a 0.7% annual expansion, a massive slowdown from the 2.9% growth seen in the second quarter.
The Cabinet Office's revision came just one day after the Bank of Japan unanimously decided to leave benchmark interest rates unchanged at 0.25%,
Compare our accounts
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
