Posted on 12 Jan 2015
Japan's government expects the economy to grow 1.5 per cent in fiscal 2015 after adjustments for price moves, a slight upgrade from its previous forecast of 1.4 per cent growth, due to an expected acceleration in consumer spending.
The government forecast overall consumer prices to rise only 1.4 per cent in fiscal 2015 in a sign of the difficulty the Bank of Japan faces in meeting its 2 percent inflation target.
Prime Minister Shinzo Abe's cabinet will use these forecasts to guide its fiscal and economic policies as the government tries to accelerate growth after a surprise recession last year.
The government previously forecast the economy would grow a real 1.4 per cent in the fiscal year starting from March, but it raised its forecast after delaying an increase in sales tax originally scheduled for October.
Japan's government expects the economy to grow 1.5 per cent in fiscal 2015 after adjustments for price moves, a slight upgrade from its previous forecast of 1.4 per cent growth, due to an expected acceleration in consumer spending.
The government forecast overall consumer prices to rise only 1.4 per cent in fiscal 2015 in a sign of the difficulty the Bank of Japan faces in meeting its 2 percent inflation target.
Prime Minister Shinzo Abe's cabinet will use these forecasts to guide its fiscal and economic policies as the government tries to accelerate growth after a surprise recession last year.
The government previously forecast the economy would grow a real 1.4 per cent in the fiscal year starting from March, but it raised its forecast after delaying an increase in sales tax originally scheduled for October.
- See more at: http://www.straitstimes.com/news/business/economy/story/japan-expects-real-15-growth-fiscal-2015-economy-bounces-back-20150112#sthash.kbLfeUpV.dpuf
