Japan Raises FY 2015 GDP Forecast

Japan's government raised the economic growth estimates marginally for the fiscal year 2015.

The real economic growth is estimated to reach 1.5 percent compared to the prior forecast of 1.4 percent, the Cabinet Office said Monday.

In nominal terms, GDP is forecast to rise 2.7 percent, slightly below the previous estimate of 2.8 percent.

For the current fiscal, the government projected 0.5 percent contraction in real terms versus prior estimate of 1.2 percent.

Further, the government expects consumer prices to rise only 1.4 percent in fiscal 2015 signaling that falling oi prices weigh on the efforts to lift inflation to the 2 percent target.

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