Japan Cabinet Office lowers FY 2018, 2019 GDP growth forecasts

The Japanese Cabinet Office issues the new economic forecasts, in light of the natural disasters and weakening export demand due to trade tensions.

Key Highlights:

GDP:

Economy to grow 0.9 percent in fiscal 2018 (ends in March), down from previous projection of 1.5 percent.

Fiscal 2019 +1.3 percent (down from previous +1.5 percent).

Capital expenditure:

+3.6 percent in fiscal 2018.

+2.7 percent growth in fiscal 2019.

CPI:

+1.0 percent this fiscal year (down from 1.1 percent forecast previously).

Fiscal 2019 +1.1 percent (from +1.5).