JAPAN DATA: The median forecast by economists for real GDP in
fiscal 2011 starting in April has been revised up to +1.6% on year from
their previous projection a 1.4% rise, thanks to a widely expected
rebound in net exports, a Market News International survey showed. The
revision followed Monday’s release of October-December GDP. The Q4 GDP
fell 0.3% on quarter (annualized -1.1%), posting the first drop in five
quarters on falls in both consumption and net exports. For fiscal 2012,
forecasters expect GDP to grow at a faster pace of +1.9% as rises in net
exports will have a positive impact on domestic demand, such as personal
consumption and capital investment. But the forecast has been revised
down from economists’ previous call of +2.2%.