Japan's FY 2025 GDP Growth Projection Lowered to 0.7 Pct

   Tokyo, Aug. 7 (Jiji Press)--The Cabinet Office said Thursday that Japan's gross domestic product in fiscal 2025 is expected to grow a real 0.7 pct from the previous year, down from 1.2 pct shown in the government's economic outlook adopted in January.
   The new estimate for the fiscal year through March 2026, submitted to the day's meeting of the Council on Economic and Fiscal Policy, reflects downside risks from high tariffs imposed by the administration of U.S. President Donald Trump.
   The U.S. tariff policy is expected to reduce Japanese manufacturers' exports to the United States and help stagnate the global economy.
   The Cabinet Office expects growth in Japan's exports to decelerate sharply to 1.2 pct from 3.6 pct due to slowing demand from abroad. Capital spending by Japanese firms is estimated to expand 1.8 pct, down from 3.0 pct.
   Personal consumption is forecast to climb 1.0 pct, down from 1.3 pct, as budget-minded attitudes are deep-rooted amid recent price increases for rice and other food.

(2025/08/07-17:56)