Japan's economy will grow at a weaker rate than previously thought this quarter despite hopes for a strong rebound in consumption after showing resilience in the three months through March, a Reuters poll of economists showed.
The world's third-largest economy is at risk of being hobbled by slowing economic growth in China and a surge in global raw material prices — both issues that could hurt Japan's key manufacturing sector, the poll showed.
However, the slower expansion still indicates growth will be strong enough for the economy to recover to its pre-coronavirus pandemic levels of end-2019 this quarter, about 70% of poll respondents said.