Japan's GDP growth for 2004 likely to be 0,3% instead of 6%

[Maciamo]

Financial Times : Tokyo downgrades economic prospects

Originally Posted by FT

Gross domestic product figures last week showed the economy limping along at an annual 0.3 per cent in the September quarter, a far cry from 6 per cent-plus growth at the turn of the year. Some policymakers admitted privately that they were shocked by the speed of the slowdown.

The GDP numbers prompted many private sector economists to acknowledge that the economy was much weaker than they had thought, although most said growth was likely to pick up again in the current quarter.