December 02, 2008

Japan reduces GDP forecast to 1.3% for current fiscal

It is reported that Japan’s government has revised its GDP growth forecast for the fiscal year to next March down from 2% to 1.3%.

AS per report, the inflation rate in Japan likely rose to a 10 Year high. And core inflation climbed 1.9% in June compared with the same period last year after rising 1.5% in May.

Japan’s weaker economic outlook has mainly been driven by rising energy and raw material costs, a US economic slowdown and a stronger yen