Japan – 日本国: Reuters publishes Economists’ estimates of Japan quake impact

Japan – 日本国: Reuters publishes Economists’ estimates of Japan quake impact
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Reuters published today a summary of the economic forecasts for Japan after the earthquake published by JP Morgan, IHS Global, Credit Suisse, Citigroup, UBS, Barclays Capital, Standard Chartered Bank and OCBC Bank.

The impact on Japan’s GDP 2011 ranges from 0.1 to 3% due to reconstruction costs. 2012 GDP growth was revised to 0.2 to 0.4% growth, underlining Japan’s tremendous capacity to reconstruct itself. After the second world war, the Japanese economy was in ruins but managed after two decades, to become one of the major economies in the world.

That being said, all these forecasts will likely to be revised if a major nuclear incident spreads from the Fukushima plant.

Reuters article: http://uk.reuters.com/article/2011/03/15/us-japan-quake-impact-idUSTRE72E2GZ20110315?pageNumber=1

Photo Credits: The Floating Torii of Itsukushima Shrine 厳島神社の鳥居 /  – By dawvon