TOKYO (AP) -- Japan's government lowered its economic growth forecasts as the country struggles with the yen's export-sapping strength and the fallout from Europe's debt crisis.
The Cabinet said Thursday it expects the economy to shrink 0.1 percent in the fiscal year through March 2012 and grow 2.2 percent in the following year as reconstruction efforts in the wake of the March earthquake boost demand.
The Cabinet had previously forecast the economy to grow 0.5 percent in the current fiscal year and 2.8 percent in the year through March 2013.
It said unemployment would fall to 4.3 percent from the 4.5 percent projected for this year.
KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.
If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.powered by Disqus
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.