IMF cuts Japan's 2024 growth estimate to 0.3%, lowest since pandemic

The International Monetary Fund on Tuesday slashed its 2024 growth forecast for Japan to 0.3 percent, down 0.4 percentage point from its estimate three months ago, citing negative developments such as temporary auto supply disruptions.The latest estimate in the IMF's World Economic Outlook report is the lowest since 2020, when the Japanese economy contracted sharply in the wake of the COVID-19 pandemic.The IMF said the Japanese economy has also been affected by the "fading of one-off factors," including a sharp rise in tourism that drove growth in 2023, in addition to the supply chain short…READ FULL ARTICLE