The Organization for Economic Cooperation and Development projected Wednesday that Japan will suffer a worse economic contraction in 2009 than earlier forecast, but the global economy is recovering and Japan will grow a real 0.7 percent next year.
The Paris-based club of 30 wealthy nations said efforts by the governments of the major economies appear to have averted the worst when it comes to the world economy.
Japan's real gross domestic product is likely to shrink 6.8 percent this year, the OECD said. Three months ago it projected a contraction of 6.6 percent. For 2010, however, it expects the economy to get back on a growth path and expand 0.7 percent, against the earlier forecast of a 0.5 percent contraction.