Japanese economy projected to shrink 3.3% in FY 2009

Apr 26th, 2009 - XinHua

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TOKYO, April 27 (Xinhua) -- The Japanese government on Monday downgraded its economic projection from a previously estimated zero growth to a shrinkage of 3.3 percent for fiscal 2009.

The government revised downward the economic growth forecast to the lowest level in the postwar era as Japan's economy "has been deteriorating at an unprecedented speed" amid the ongoing financial crisis, the cabinet office said.

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