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

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A businessman stands on a terrace overlooking a banking district in Tokyo, Japan, February 16, 2016. REUTERS/Thomas Peter

  • Japan firms see econ recovery lagging govt estimate
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TOKYO, Sept 16 (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…

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