GDP = gross domestic product announced on the 15th was far below the forecast of the private sector, indicating that the Japanese economy is at a standstill.
It has also been pointed out that in order for the government to recover GDP to the pre-corona level, which is expected by the end of the year, it will be necessary to achieve annual growth of over 9% in the three months until next month. Recovery on the street is even more difficult.
The GDP from July to September, announced by the Cabinet Office on the 15th, has seen a real growth rate of minus 3.0% on an annualized basis compared to the previous three months, the first negative figure in two quarters. rice field.
It is well below the average of minus 0.56% predicted by 37 private economists, indicating that the Japanese economy is at a standstill.
The government expects GDP to return to pre-corona levels by the end of the year, but according to estimates by Shinichiro Kobayashi, senior researcher at Mitsubishi UFJ Research & Consulting, the annual rate will be three months until next month. It means that we need to achieve growth of over 9.5% in terms of conversion.
Mr. Kobayashi said, "The hurdles have risen due to the increase in the negative range of GDP this time," and it is even more difficult for the Japanese economy to recover as originally expected.
While the risks of pushing down the economy, such as rising raw material prices due to high crude oil prices, have been pointed out, it will be questioned whether the government can achieve concrete effects through economic measures.