The latest Reuters poll of 32 economists showed on Friday, the Japanese economy is likely to contract sharply and suffer mild deflation this fiscal year, in the light of the devastating impact of the coronavirus pandemic and US-China tensions. Key findings “The economy is forecast to shrink 5.6% in the current fiscal year to next March, more than a 5.3% contraction projected last month. In a worst-case scenario it will shrink 8.0%. The downgrade came as many analysts revised their forecasts for April-June gross domestic product (GDP) to a 27% contraction – last month’s worst-case forecast – from a nearly 24% drop projected in July. Japan’s economy will grow just 3.3% in the following year beginning in April 2021, the Aug. 4-13 poll showed, unchanged from the previous poll in July. Core consumer prices, which exclude volatile fresh food but includes energy costs, will fall 0.3% this fiscal year and rebound just 0.2% next year. Over 80% of respondents also said Japanese companies would face adverse effects if Washington and Beijing move toward creating their own economic zones, which would mark a retreat of globalization.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Trading? 5 Tips to Help You Be Successful Guest 2 years The latest Reuters poll of 32 economists showed on Friday, the Japanese economy is likely to contract sharply and suffer mild deflation this fiscal year, in the light of the devastating impact of the coronavirus pandemic and US-China tensions. Key findings “The economy is forecast to shrink 5.6% in the current fiscal year to next March, more than a 5.3% contraction projected last month. In a worst-case scenario it will shrink 8.0%. The downgrade came as many analysts revised their forecasts for April-June gross domestic product (GDP) to a 27% contraction - last month’s worst-case forecast - from a nearly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.