Japan GDP growth to halve to 1.5%

Via Mainichi

Japanese economic growth will slow to a real 1.5 percent in fiscal 2011 from 3.1 percent in the current year due mainly to weak private consumption amid the diminishing effects of fiscal stimulus measures, government projections showed Wednesday.

In its outlook report, the Cabinet Office also said consumer prices will remain unchanged in the year starting April. The recent year-on-year falls in the consumer price index will halt in the middle of next year, it said, but suggested this would not represent Japan's beating of chronic deflation in its economy.

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