<p>Economists at BNP Paribas and SMBC Nikko Securities have lowered their economic growth expectations, forecasting that 2024 will see Japan's first annual contraction since the COVID-19 pandemic in 2020. Ryutaro Kono, an economist at BNP Paribas, expects GDP to shrink by 0.4%, while economists like Yoshimasa Maruyama at SMBC predict a decline of 0.3%. Both economists had previously predicted a slight expansion in the Japanese economy. (Bloomberg)</p>

<p>Economists predict that the Japanese economy will shrink in 2024, marking the first annual contraction since the COVID-19 pandemic in 2020. Economists at BNP Paribas in Paris forecast a 0.4% GDP contraction, while economists at SMBC and others predict a 0.3% decline. Previously, both economists had forecasted a slight expansion in the Japanese economy</p>

Economists: Japan's economy is expected to shrink in 2024