Japan cuts 2024 growth forecast

By Reuters

Jul 20, 2024 12:15 am

TOKYO — Japan's government cut this year's growth forecast on Friday as consumption took a hit from rising import costs due to a weak yen, highlighting the fragile nature of the economic recovery.

But it projected growth to accelerate next year on robust capital expenditure and consumption, retaining its view the economy will sustain a domestic demand-led recovery.

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