The International Monetary Fund is forecasting that Japan's economy will grow 0.7 percent this year, up 0.2 percentage point from its earlier estimate due to stimulus measures to mitigate the impact of the Oct. 1 consumption tax hike.
The Washington-based institution also said global growth appears to have bottomed out, but there is no rebound in sight and risks ranging from trade tensions to climate shocks make the outlook uncertain.
For 2020 and 2021, the IMF trimmed its global growth forecasts, mostly due to a sharper than expected slowdown in India and other emerging markets, even as it said the U.S.-China trade deal has added to hopes the downturn is bottoming out.