KAS Japan Weekly COVID-19 Updates

The Bank of Japan (BOJ) survey finds that business sentiments of large enterprises in the manufacturing industry fell to minus 8 points (-8). The Cabinet Office abandons the hope of recovery in their March 2020 report and admits that the Japanese economy is in a severe situation, the worse state in the last seven years. A high probability of negative GDP growth is projected by the Nomura Research Institute for the second quarter (April to June) of 2020.