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Economy
In reply to the discussion: STOCK MARKET WATCH -- Thursday, 17 January 2013 [View all]xchrom
(108,903 posts)35. World Bank cuts Japan estimate due to isle row
http://www.japantimes.co.jp/text/nb20130117a1.html
WASHINGTON The World Bank announced it has slashed its economic growth forecast for Japan to 0.8 percent this year from an earlier estimate of 1.5 percent, due partly to the negative impact of Tokyo's territorial dispute with Beijing.
"In Japan, the current dispute with China (over the Senkaku Islands) is sapping growth, while the country's huge fiscal debt requires attention," the World Bank said Tuesday in its latest Global Economic Prospects report.
"Assuming that relations with China improve during the course of 2013, output is expected to gradually strengthen, but to expand by only 0.8 percent in 2013, before strengthening toward 1.5 percent by the end of the forecast period," the semiannual report said.
The World Bank projects Japan's economy to grow 1.2 percent in 2014, as measured by inflation-adjusted gross domestic product, down from the previous estimate of 1.5 percent. For 2015, it forecasts a 1.5 percent expansion, the first time the bank has released its growth projections for that year.
WASHINGTON The World Bank announced it has slashed its economic growth forecast for Japan to 0.8 percent this year from an earlier estimate of 1.5 percent, due partly to the negative impact of Tokyo's territorial dispute with Beijing.
"In Japan, the current dispute with China (over the Senkaku Islands) is sapping growth, while the country's huge fiscal debt requires attention," the World Bank said Tuesday in its latest Global Economic Prospects report.
"Assuming that relations with China improve during the course of 2013, output is expected to gradually strengthen, but to expand by only 0.8 percent in 2013, before strengthening toward 1.5 percent by the end of the forecast period," the semiannual report said.
The World Bank projects Japan's economy to grow 1.2 percent in 2014, as measured by inflation-adjusted gross domestic product, down from the previous estimate of 1.5 percent. For 2015, it forecasts a 1.5 percent expansion, the first time the bank has released its growth projections for that year.
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