TOKYO : Japan's export-reliant economy will grow at less than half the pace in the current quarter than thought just one month ago, held back by local coronavirus outbreaks and the impact from the pandemic abroad, a Reuters poll found.
"Even assuming this is the last major wave we're seeing... the repercussions of this are going to stay with us for some time," said Stefan Angrick, senior economist at Moody's Analytics. But others said consumption was unlikely to contract much in the third quarter thanks to Tokyo's hosting of the Olympics in July and August and as more people shrugged off https://www.reuters.com/world/asia-pacific/pandemic-fatigue-complicates-japans-covid-fight-risks-recovery-delay-2021-08-18 voluntary requests to stay home.
Core consumer prices, which exclude volatile fresh food prices, were expected to shrink 0.1per cent this fiscal year, down from a 0.3per cent increase expected last month, the poll showed. The Liberal Democratic Party will hold a leadership election on Sept. 29, after Prime Minister Yoshihide Suga announced this month he was stepping down, with the winner of the vote all but assured to be Japan's next leader.
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