Japan decreases growth forecast

Japan's economic expansion is expected to contract by 0.1% in the first part of this year as compared to 0.5% growth previously projected, according to the government's forecast. The growth pace for the next year is likely to fall to 2.2% from 2.9% initially expected. The downgrades were made on the high value of Yen and negative economic outlook worldwide, said the government of the country.