Japan

Article Abstract:

The major influence in the Japanese economy in the first half of 1997 has been the Apr 1 1997 increase in consumption tax from 3% to 5%. This forced up consumer spending in advance of the increase, and the forecast for the remaining portion of 1997 is related to continued reaction to this increase. Gross domestic product in the first quarter of 1997 was 2.6% up on the equivalent 1996 figure, but the forecast growth for 1997 is 2.1%, compared to 3.7% in 1996. The effects of fiscal policy should lessen in 1998 causing growth to increase to 2.9%. Business investment is strong, and the decline in the trade surplus has been halted.

Public Finance Activities, Fiscal Policy, National Income & Expenditure, Gross Private Domestic Invest, Exports of Goods & Services, Imports of Goods & Services, Economic indicators

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Japan

Article Abstract:

Japan saw strong growth in 1996 and exports have been helped by the continuing weakness of the Yen according to a report. The report looks at the Japanese budget which will involve tight government spending plans, and covers domestic price pressures which remain weak. The financial system is still of concern, but growth in 1998 is expected to be stronger, with business investment continuing to grow strongly. Domestic demand is forecast to rise by about 3.5%, reducing the impact of interest rate rises.

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