Japan Government Forecasts 1.8% Real GDP Growth for FY 2018 (News)
Tokyo, Dec. 19 (Jiji Press)—Japan's gross domestic product in fiscal 2018 is now projected to grow 1.8% year on year in price-adjusted real terms, up from the previous estimate of 1.4% made in July, the government's latest economic outlook showed Tuesday.
The Japanese economy's growth in the year through March 2019 would be led by domestic demand, such as capital investment and personal spending, according to the outlook adopted at the day's cabinet meeting.
On the back of strong overseas economies, Japan's exports are expected to stay firm, the government also said.
Meanwhile, the unadjusted nominal growth rate estimate was left unchanged, at 2.5%, reflecting tardy progress of inflation.
In line with the growth rate estimate, the country will see its nominal GDP expand to an all-time high of ¥564.3 trillion, closer to the government-set target of ¥600 trillion for around 2020.[Copyright The Jiji Press, Ltd.]