TOKYO: They expect Japan’s exports to grow this year, led by strong global demand. They also say consumer spending will moderately rise, because of an improved job market. Ten think tanks project Japan’s gross domestic product will expand 1 to 1.3 percent in price-adjusted real terms in fiscal 2018, which starts in April. Japan’s economy began picking up in December 2012.
If the economy continues to expand throughout the year, it would be longest period of recovery since the end of World War Two. But wage hikes are outpaced by improvement in corporate performances and stock prices. Economists say the key is whether the effects of economic recovery will be felt by many across the country through wage hikes. They also point to some possible bumps for the global economy.