Japan Economic Forecast

Japan Economic Outlook

September 26, 2017

Following a slowdown in private non-residential investment, growth in the second quarter was revised down to 2.5% in seasonally-adjusted annualized terms, significantly below the 4.0% figure reported in a preliminary estimate. Despite this revision, the print marked the fastest expansion since Q1 2015 and puts the economy on a steady track to recovery. The latest data suggests that healthy growth is being sustained in the third quarter. Machinery orders rebounded in July, and exports had the fastest pace of expansion in almost four years in August. Strong economic momentum and a splintered opposition compelled Prime Minister Shinzo Abe to hold snap elections on 22 October in a bid to consolidate his grip on power. Unlike in previous elections, the prime minister is not expected to postpone an unpopular 10% sales tax hike projected in 2019 to lower astronomical public debt, despite the adverse effects it could have on private consumption and economic growth.

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Japan Facts

Bond Yield0.07-1.45 %Oct 18
Exchange Rate112.90.65 %Oct 18
Stock Market21,3630.13 %Oct 18

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Japan Economic Growth

September 26, 2017

Resilient global growth and improving domestic demand are propping up Japan’s economy this year. However, ongoing geopolitical tensions could lead the yen to appreciate, hurting the external sector. FocusEconomics panelists see the economy growing 1.5% this year. For 2018, they see growth at 1.1%, which is up 0.1 percentage points from last month’s forecast.

Japan Economic News

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