Japan Govt raises consumption, capex and housing forecasts for FY 2017

The Japanese Government raised its growth forecasts for private consumption, capital expenditure, and housing investment for FY 2017, although left its overall forecast for GDP growth unchanged this fiscal, according to the latest forecasts that the government's top advisory panel approved after a meeting on Friday.

Key Highlights (via Reuters):

“The government also expects consumer prices to rise 1.1 percent this fiscal year and 1.3 percent in fiscal 2018

Consumer spending is forecast to rise 0.9 percent in fiscal 2017

Housing investment is expected to rise 0.8 percent this fiscal year, well above the previous estimate of 0.1 percent growth 

The government expects capital expenditure to rise 3.6 percent in fiscal 2017, more than its previous estimate for a 3.4 percent increase.”