Japan firms brace for economic contraction after Olympics, seek more stimulus – Reuters poll

By Tetsushi Kajimoto TOKYO (Reuters) - Japanese firms are overwhelmingly expecting the economy to contract after the 2020 Tokyo Olympics following growth in the run-up to the event, prompting a call for fresh fiscal stimulus to support a fragile economy, a Reuters poll showed. Growth in the world's third-largest economy has slowed to a crawl in the last quarter as the U.S.-China trade war and global slowdown undermined the export-led economy. Many market players bet the economy will contract in the current quarter, as consumption takes a hit from the sales tax hike to 10% from 8% starting on Oct

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