Japan's economic recovery forecast to be weaker

Japan, the world's third-largest economy, is expected to post an annualised 3.4% expansion in Q2 from the previous period, weaker than earlier forecast. A Bloomberg survey showed the growth will be down from 4% in the previous survey. The recovery is forecast to keep slowing down from there with a 1% increase seen in the Q2 of 2023. According to the report, the weaker outlook for Japan's economy reflects worries abroad, including a possible recession in the US. Japan's economy contracted in the first three months of this year mainly due to Covid-19 curbs on businesses.