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ECONOMY

Half of Japan biz leaders expect slow economic recovery

  • September 3, 2020
  • , Jiji Press , 5:26 p.m.
  • English Press

Tokyo, Sept. 3 (Jiji Press)–Almost half of corporate leaders in Japan believe that the country’s economy will see an L-shaped recovery from the novel coronavirus crisis, in which growth is stalled for a long period, a survey by the Japan Productivity Center showed Thursday.
 

The survey, conducted with U.S. research institution Conference Board Inc., asked chief executive officers of companies around the world about how they expect their respective countries’ economies will recover from the slowdown triggered by the pandemic.

 

According to the survey, 49 pct of Japanese CEOs said they expect growth to resume in 2021 or later.

 

Japanese executives tended to predict a more pessimistic scenario compared with those of other countries, according to the center.

 

Worldwide, 42 pct of CEOs expect a U-shaped recovery, in which growth resumes in the fourth quarter of 2020. The U-shape was the most common response among business leaders in the United States, Europe and China.

 

In Japan, 26 pct of CEOs expect a U-shaped recovery, while 23 pct chose a W-shape scenario, in which the economy shrinks again in the second half of this year after a brief recovery.

 

The survey, conducted in May and June, covered corporate executives in 44 countries including Japan. Responses from 606 CEOs around the world, including 95 from Japan, were used in the analysis.

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