World Bank Cuts Japan 2019 Growth Forecast to 0.8 Pct

Economy

Washington, June 4 (Jiji Press)--The World Bank on Tuesday revised down its forecast on the Japanese economic growth in 2019 by 0.1 percentage point to 0.8 pct.

As for the global economy, the international body foresees growth of 2.6 pct, down 0.3 point from its previous projection released in January and the smallest expansion since 2016.

"Global growth has continued to soften this year," the World Bank said in its Global Economic Prospects report. "Momentum remains weak and policy space is limited."

The dismal view reflected weak exports and investments due to unabated uncertainties posed by the U.S.-China trade war.

Risks are "firmly on the downside," the report said.

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Jiji Press