Economic Watch: Risk of COVID-19 resurgence likely to hamper Japan’s economic recovery
Though Japan’s economic recovery was sluggish in the first half of this year, COVID-19 resurgence remains the biggest obstacle in the second half.
In its report for global economic prospects released in June, the World Bank raised its forecast for global economic growth this year to 5.6 percent, compared with a mere 2.9 percent for Japan’s economy growth.
Japan’s Cabinet Office recently released a monthly economic report that Japan’s economic recovery is still grim under the impact of the pandemic. Although the recovery momentum is continuing, some sectors remained weak.