Economic growth forecast for the current fiscal year-substantially revised down to around 4.5% Cabinet Office

Economic growth forecast for the current fiscal year-substantially revised to around 4.5% Cabinet Office July 30, 17:52

The Cabinet Office has announced a preliminary calculation that the growth rate of GDP (Gross Domestic Product) will drop to around -4.5% excluding the fluctuation of prices, regarding the economic growth rate for the current year.

This is because personal consumption and exports will decrease significantly due to the spread of the new coronavirus infection, and we have significantly revised down the forecast for half a year ago, which was around 1.4%.