Impact of quake on Japan’s growth likely to be ‘temporary’; ‘Limited impact’ on strong regional economy says World Bank
Mar 21st, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Japan’s real GDP growth will slow, but the slowdown will likely be temporary, as a result of the earthquake and tsunami and growth should start picking up after mid-2011 as reconstruction efforts get underway, says the World Bank in its latest East Asia and Pacific Economic Update released today. While it is still too early for a full assessment, the Bank says Japan’s past experience suggests an accelerated reconstruction effort, and the short term impact on the economies of developing East Asia is likely to be limited.