• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Japan firms see economy recovering to pre-COVID level in FY2022

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

By Tetsushi Kajimoto

TOKYO (Reuters) – A majority of Japanese firms say the world’s third-largest economy will recover to pre-pandemic levels in fiscal 2022, a Reuters poll showed, with many anticipating they will continue to face COVID pains until next year or later.

The Corporate Survey results underscored a cautious view of Japan Inc on the economy, which stood in contrast with the government’s optimistic estimate that gross domestic product (GDP) will return to pre-COVID levels later this year.

Revised government data last week showed Japan’s economy grew 1.9% in April-June, backed by solid capital spending, but economists say a resurgence in the pandemic will put a drag on the pace of recovery in the coming quarters.

“There will be a repeat of the vicious circle of variants and resurgence,” a manager of a ceramics maker wrote in the survey on condition of anonymity. “It will take time to contain the pandemic thoroughly.”

The manager added that the economy will return to pre-COVID levels in fiscal 2024.

The Corporate Survey found a slim majority said the economy will return to pre-pandemic levels in fiscal 2022, followed by one third of respondents who anticipated a recovery to such levels in fiscal 2023.

About 16% saw the economy’s return to pre-pandemic levels to happen in 2024 or later.

The Sept. 1-10 poll canvassed 500 large and midsize non-financial Japanese corporations, conducted for Reuters by Nikkei Research. About 260 companies responded to the survey.

In the survey, three-quarters of Japanese firms said they were negatively hit by the pandemic while 11% were affected positively. Nearly 60% said negative impacts will disappear in fiscal 2022. About 21% said such effects will fade away this fiscal year and the rest saw it disappearing after fiscal 2022.

Further clouding the outlook, half of Japanese firms said they were being affected by a global chip shortage, which six out of 10 firms said will be resolved next fiscal year.

About 20% said the chip shortage has caused or will cause downward revision to their output and sales plan in fiscal 2021.

“Spreading infections and lockdown in Southeast Asia have cut supply-chain of parts,” a machinery maker manager wrote. “Lockdown in Malaysia was a factor behind chip shortages,” a transport equipment maker manager wrote.

Asked which activity they will focus on in a post-pandemic economy, many firms said changes in lifestyle and consumer behaviour as well as digital transformation and decarbonisation.

(Reporting by Tetsushi Kajimoto; Editing by Stephen Coates)

Source Link Japan firms see economy recovering to pre-COVID level in FY2022

David Barret
David Barret

Related posts:

  1. Golf – Watson underplays stardom in U.S. Solheim Cup team room
  2. UK government plans new pet abduction offence after rise in thefts
  3. The FDA should regulate Instagram’s algorithm as a drug
  4. Wall Street rallies on crude price jump, economic data

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Unethical Experiments: When Scientists Really Should Have Stopped What They Were Doing Immediately
  • The First Humans Were Hunted By Leopards And Weren’t The Apex Predators We Thought They Were
  • Earth’s Passage Through The Galaxy Might Be Written In Its Rocks
  • What Is An Einstein Cross – And Why Is The Latest One Such A Unique Find?
  • If We Found Life On Mars, What Would That Mean For The Fermi Paradox And The Great Filter?
  • The Longest Living Mammals Are Giants That Live Up To 200 Years In The Icy Arctic
  • Entirely New Virus Detected In Bat Urine, And It’s Only The 4th Of Its Kind Ever Isolated
  • The First Ever Full Asteroid History: From Its Doomed Discovery To Collecting Its Meteorites
  • World’s Oldest Pachycephalosaur Fossil Pushes Back These Dinosaurs’ Emergence By 15 Million Years
  • The Hole In The Ozone Layer Is Healing And On Track For Full Recovery In The 21st Century, Thanks To Science
  • First Sweet Potato Genome Reveals They’re Hybrids With A Puzzling Past And 6 Sets Of Chromosomes
  • Why Is The Top Of Canada So Sparsely Populated? Meet The “Canadian Shield”
  • Humans Are In The Middle Of “A Great Evolutionary Transition”, New Paper Claims
  • Why Do Some Toilets Have Two Flush Buttons?
  • 130-Year-Old Butter Additive Discovered In Danish Basement Contains Bacteria From The 1890s
  • Prehistoric Humans Made Necklaces From Marine Mollusk Fossils 20,000 Years Ago
  • Zond 5: In 1968 Two Soviet Steppe Tortoises Beat Humans To Orbiting Around The Moon
  • Why Cats Adapted This Defense Mechanism From Snakes
  • Mother Orca Seen Carrying Dead Calf Once Again On Washington Coast
  • A Busy Spider Season Is Brewing: Why This Fall Could See A Boom Of Arachnid Activity
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version