By Mikka Pineda
May 3, 2011
2:13:00 PM
| Last Updated
The following is an update to our March 2011 Outlook.
Due to unforeseen incidents and worsening secondary economic losses from the Tohoku earthquake, we have raised our estimate for the net economic loss from the earthquake to 4.6% of Japan's GDP. Therefore, we have slashed our GDP growth forecast by 1 percentage point to 0.1% y/y for calendar year 2011 and by 1.4 percentage points to 0.8% for fiscal year 2011. Given that March economic indicators almost universally undershot consensus, we are comfortable sitting below the Reuters survey consensus forecast of 0.3% GDP growth for[...]
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