Japan’s Economy to Grow 1.5% in Fiscal 2017

Japan, Japan’s economy is expected to bloom in real terms in fiscal 2017.

The Japanese economy will likely grow 1.5% as improving labor market conditions and income growth, partly supported by stimulus measures, will boost consumption, the Japanese government said Tuesday.

Japan’s gross domestic product (GDP) in nominal terms is forecast to expand 2.5% in the year starting next April to 553.5 trillion yen about ($4.71 trillion), according to Japan’s (Kyodo) News Agency.

The 1.5% expansion is an upgrade from the government’s earlier estimate in July of a 1.2% increase and more upbeat than the around 1% growth projected by private-sector economists.

Source: Qatar News Agency