Japan¡¯s economy will grow at a weaker rate than previously thought this quarter despite hopes for a strong rebound in consumption after showing resilience in the three months through March, a Reuters poll of economists showed.
The world¡¯s third-largest economy is at risk of being hobbled by slowing economic growth in China and a surge in global raw material prices ¡ª both issues that could hurt Japan¡¯s key manufacturing sector, the poll showed.
However, the slower expansion still indicates growth will be strong enough for the economy to recover to its pre-coronavirus pandemic levels of end-2019 this quarter, about 70% of poll respondents said.
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