The view that global growth rates will rise somewhat is consistent with the forecasts of international institutions. For example, according to the July 2019 World Economic Outlook Update released by the IMF, global growth is forecast at levels exceeding 3.0 percent for 2019 and 2020, although the projections for both years were revised downward from those made in April 2019 (Chart 1). B.
Current Situation of Japan's Economy I will now discuss the economic situation in Japan. Japan's economy has been on a moderate expanding trend, with a virtuous cycle from income to spending operating, and the output gap has remained positive. In 2018, the real GDP growth rate for the July-September quarter was negative, due mainly to the effects of natural disasters.