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FY18 GDP growth forecast to rise

Jiji Press TOKYO (Jiji Press) — The country’s gross domestic product in fiscal 2018 is forecast to increase 1.4 percent from the previous year in price-adjusted real terms, the Cabinet Office said Friday.

The growth for the year starting next April is seen edging down from a 1.5 percent rise projected for fiscal 2017, due mainly to a drop in public investment.

The government expects that personal spending will continue to recover moderately on the back of an improvement in the income situation.

The forecasts were submitted to the day’s meeting of the government’s Council on Economic and Fiscal Policy.

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