Fri, 22 Oct 2021

In survey, Japanese businesses say recovery will come in 2021

Robert Besser
18 Sep 2021, 13:33 GMT+10

TOKYO, Japan: A survey by Reuters found that most Japanese companies believe the recovery of the country's economy has reached the stage before the pandemic struck.

However, other companies have said they expect to continue to see business operating below normal into 2022.

The outcome of the poll reflected a wary economic assessment by Japanese companies, contrary to the government's positive estimation of the gross domestic product returning to pre-pandemic levels.

Modified government data indicated a 1.9 percent economic growth throughout the country for the April-June period, supported through strong capital expenditures, though economic experts claim that in the event of a Covid resurgence, the rate at which the economy would recover in the subsequent part of the year would be affected.

According to some in the business community, it is not expected to see a full recovery until 2024.

In the polling, a small number of respondents thought the economy would recover to the pre-COVID-19 stage in 2022, while one-third forecast that recovery would not occur until 2023.

Some 16 percent of those polled said a full recovery would not be seen until 2024 or thereafter.

Nikkei Research carried out the survey for Reuters from September 1-10, which analyzed five hundred large- and medium-scale non-financial firms in Japan. Some 260 firms participated in the survey.

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