Japanese firms brace for economic contraction after Olympics

Workers are seen outside the New National Stadium, the main stadium of Tokyo 2020 Olympics and Paralympics.
The Reuters Corporate Survey found Japanese firms have a gloomier outlook of the economy, with 65% of respondents expecting the economy to contract after the Olympics.
Some 65% also urged the government to compile fresh economic stimulus to underpin a fragile economy after the 2020 Olympics.
There's a risk of private consumption falling sharply after the Olympics," a manager at a transport equipment maker wrote in the survey.
"An economic boom triggered by the Olympics may help avoid a slump temporarily.