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Emergency declaration forecast to have major impact on economy  

  • April 24, 2021
  • , Mainichi, Yomiuri, Nikkei
  • JMH Summary

The Saturday editions of Nikkei, Yomiuri, and Mainichi wrote that the fresh state of emergency will inevitably have a major impact on the Japanese economy. One economist said the new restrictions on business and other activities could push down consumer spending by 520 billion yen ($4.8 billion) and some 25,000 people may lose their jobs. Another economist said the 17-day emergency will cause an economic loss of about 700 billion yen ($6.4 billion)—411 billion yen ($3.8 billion) in Tokyo and 288 billion yen ($2.6 billion) in Osaka, Kyoto, and Hyogo combined—accounting for about 0.1% of Japan’s annualized nominal GDP.    

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