ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Japan GDP to contract mid-4% range in FY2020: government

COVID forces outlook lower than during 2008 financial crisis

The Japanese economy is taking a hit from the coronavirus outbreak.    © Reuters

TOKYO -- Japan expects its economy to shrink mid-4% range for fiscal 2020, Nikkei has learned.

The revised projection for real gross domestic product marks a significant downward revision from the prospect of 1.4% growth planned by the cabinet at the start of the year, highlighting the economic damage caused by the new coronavirus. The figure exceeds the 3.4% decline in GDP in fiscal 2008, when the economy was hit by the global financial crisis.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more