Home Business News Coronavirus impact is threatening Japan’s economy

Coronavirus impact is threatening Japan’s economy

by LLB Reporter
17th Feb 20 2:46 pm

Japan is on the brink of recession as the economy contracted at its fastest in more than five by 1.6% in quarter four at the end of 2019.

The impact of coronavirus is threatening tourism and exports for the worlds’ third largest economy and the Nikkei index fell by 0.7%.

Taro Saito, executive research fellow at NLI Research Institute said, “There’s a pretty good chance the economy will suffer another contraction in January-March.

“The virus will mainly hit inbound tourism and exports, but could also weigh on domestic so consumption quite a lot.

“If this epidemic is not contained by the time of the Tokyo Olympic Games, the damage to the economy will be huge.”

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