The Japanese government today projected further economic contraction through the fiscal year ending in March, dramatically downgrading the previous forecast.
Japan's gross domestic product (GDP) is expected to fall 0.9 per cent in real terms, instead of growing 1.7 per cent as initially forecast, the Japanese government said.
The revised government forecast, the worst since the current GDP formula was set in 1980, is roughly in line with those of private economists and the Bank of Japan.
