Japan Cabinet Office:

  • Estimates real GDP growth of 1.2% in FY2014/15, vs previous forecast of 1.4%
  • Estimates real GDP growth of 1.4% in fy2015/16
  • Estimates overall CPI y/y increase excluding sales tax at 1.2% in FY2014/15, unchanged from previous forecast
  • Estimates overall CPI y/y increase excluding sales tax at 1.8% in FY2015/16

Headlines via Reuters

  • Slightly lowered economic growth forecast for the current fiscal year to March 2015 due to sluggish exports and a larger-than-expected pullback in demand after the April sales-tax hike
  • Estimates are pretty muc in line with current BOJ estimates