Analysis by Region - Asia Pacific - Japan
We've maintained our 2023 GDP growth forecast for Japan at 0.6% y/y. However, we're lowered our outlook for 2024 by 0.3ppts to 1.1% growth as we believe the sluggish external environment will likely continue into next year.
Japan: External demand will continue to weigh on growth in 2024Forecast overviewRecent developmentsShort-term outlookKey drivers of our short-term forecastEconomic riskEconomic risk evaluationRisk warningsWhat to watch out forExposure to key global risksLong-term prospectsBackgroundEconomic developmentStructure of the economyBalance of payments and structure of tradePolicyEconomic policy