The coronavirus epidemic is expected to shave up to 0.2 percentage points off Ja...
TOKYO - The coronavirus epidemic is expected to shave up to 0.2 percentage points off Japan’s economic growth this year as it hits exports, factory output and tourism, a Reuters poll of analysts showed on Friday.
“If global supply chain disruptions and travel restrictions are prolonged, the impact will become bigger. But if things stabilize in about two months, the damage will be limited,” said Mari Iwashita, chief market economist at Daiwa Securities. The economy is expected to grow 0.16% in 2020, an ESP survey conducted each month by a nonprofit private research institute, showed on Thursday.
“Downside pressure to the economy from the coronavirus is unavoidable in the short term,” said Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute. The poll showed 20 of 39 economists don’t expect the BOJ to review its policy, while 19 said the central bank will. Among those who selected “yes”, more than half predicted it could be by the first half of 2021 and 42% said it would be sometime in 2020 or later.
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