Japanese Economy Monthly Forecast (June 2020)
▶ Our latest expenditure-side forecast for Japan’s real GDP growth in 2020 Q2 is an annualized -25.0% QoQ. Our production-side forecast is an annualized -19.3% QoQ. The average of the two is an annualized -22.1%.
▶ Our forecasts for the private final consumption expenditure deflator and the domestic demand deflator in 2020 Q1 are respectively -0.2% QoQ and -0.3% QoQ. As the terms of trade have improved substantially, we forecast an overall Q2 GDP deflator of +1.2% QoQ.
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