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Japan's GDP forecast to shrink 11% in second quarter

Private economists downgrade outlook again after state of emergency declared

Economists had projected GDP to grow 2.31% for the April-June quarter in the same survey a month ago.   © Reuters

TOKYO -- The Japanese economy will contract more than 11% in the April-June quarter as the coronavirus crisis intensifies, according to the latest consensus forecast of private-sector economists.

The outlook for the world's third-largest economy worsens by the week. Economists had predicted real gross domestic product to grow an annualized 2.31% for the second quarter in a March 3-10 survey by the Japan Center for Economic Research. They cut the forecast to minus 6.93% in a poll taken between March 27 and April 3.

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