Major media outlets report that the serious effects of the new coronavirus infection (COVID-19) on the Japanese economy are inevitable.
On February 17, the Cabinet Office released preliminary figures for the gross domestic product (GDP) for the period from October to December 2019. When converted to annualized rates, it turned negative for the first time in five quarters, at 6.3% in real terms. The negative margin was the largest since the April-June quarter of 2014 (down 7.4%). The media of each country analyzed the negative growth factors as the effects of the consumption tax hike. Point out that the Japanese economy may fall into recession due to the new coronavirus infection in the future.
-  What will Happen World War 3 in Japan
- [Break News] Olympic and Coronavirus
- [Break News] Coronavirus [Is Tokyo Summer Olympic cancel?]
- [Break News] Coronavirus Japan’s recession is “almost inevitable”
- [Break News] Coronavirus in Japan
“Recession is almost inevitable” (CNN)
CNN reported that the outbreak of the new coronavirus infection could “cancel hopes for a recovery in the January-March 2020 period.
The recession is no longer inevitable,” said Robert Kernel, chief economist for the Asia-Pacific region of Dutch financial giant ING.
In addition, the number of foreign tourists to Japan from Japan in 2019 was 8.1 million, the largest by country, so it is predicted that the impact on tourism will be inevitable.
He also mentioned the impact on the manufacturing industry.
such as the closure of a Chinese factory by automakers and the adjustment of production due to a shortage of parts.
“The world’s third-largest economy could fall into recession” (BBC)
The BBC also reported that Japan’s GDP fell sharply in the October-December period of 2019 in an article entitled. The Japanese economy will shrink the fastest since 2014 ” Big nations could fall into recession. Investors have said they are watching if the Japanese economy will recover following the closure of Chinese factories and a significant drop in Chinese tourists.