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Publication date of PhosAgro 1Q 2021 IFRS results



Bloomberg

Japan’s GDP shrinks more than feared amid winter emergency

(Bloomberg) – Japan’s recovery stalled in the last quarter, with the economy contracting more than analysts expected, as renewed restrictions to contain the coronavirus hit buyers and discouraged business investment, while spending government cuts due to the suspension of a travel promotion campaign. The product was down 5.1% on an annualized basis from the previous quarter in the three months to March, ending a two-quarter streak of double-digit growth, the Cabinet Office reported on Tuesday. Economists had forecast an overall contraction of 4.5%. The worse-than-expected result comes at a critical time for Prime Minister Yoshihide Suga’s government as it struggles to contain cases of the virus with a targeted approach that limits damage to the economy and a slow vaccine. The unexpected drop in business investment suggests that businesses may be more cautious about the outlook than previously thought. Still, buyers haven’t pulled back as much as economists feared, which could signal an underlying reservoir of demand that could help accelerate the recovery. an impact, ”said economist Hiroaki Muto of Sumitomo Life Insurance Co.“ Companies are reluctant to invest with uncertain prospects. The outlook largely hinges on Suga’s ability to lift a third viral emergency by the end of May, as planned. Three other prefectures joined the emergency over the weekend, subjecting around half of the economy to slightly stricter restrictions than those called for in winter, but still far less draconian than European lockdowns. savings, but a slow rollout of the vaccine has limited its tools to tackle the epidemic and get the economy back on track. So far, only around 3% of the population has received even a single dose, yet strong exports and industrial production continue to provide a base of support for the economy, although an increase of imports brought the trade component of GDP to What the Bloomberg economist says … “As for 2Q, we see GDP resuming a slow growth rate, assuming the last state of emergency occurs. ends at the end of May as planned. Beyond that, the strength of the recovery will depend on how quickly the vaccinations roll out and whether the Tokyo Olympics take place. – Yuki Masujima, Economist For the full report, click here. , was down 1.4% from the previous quarter on a non-annualized basis, compared to a 1.9% decline forecast by economists. Business investment also fell 1.4%. Analysts had predicted a gain of 0.8%, inventories added 0.3 percentage point to GDP, compared to 0.2 percentage point expected by economists, while net exports of goods and services subtracted 0 .2 percentage point of growth, which is the median forecast (adds economist commentary. Subscribe now to stay ahead with the most trusted source of business news. © 2021 Bloomberg LP



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