Tax Delay May Boost Japan GDP by 0.3% Points Next Year: Survey

Twelve economists surveyed by Bloomberg News see a postponement of the sales-tax increase adding 0.3 percentage points to Japan’s economy next fiscal year, and 0.3 ppts the year after.

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                                            -Boost to GDP-      -GDP Growth-  
Economist                                   FY2015   FY2016   FY2015    FY2016
                                               PPT      PPT        %         %
===============================================================================
Median                                        0.3      0.3      1.5%      1.5%
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Capital Economics: M. Thieliant                0.2      0.8     0.3%      1.6%
Credit Agricole: K. Ogata                      0.5      0.2     2.0%      1.4%
Credit Suisse: T. Shiono                       0.1      0.4     1.0%      1.1%
Dai-ichi Life: H. Kumano                       0.3      0.3     1.6%      1.5%
Japan Macro Adv: T. Okubo                      0.3      0.8     1.0%      1.6%
JPMorgan Chase: M. Adachi                      0.2        -     1.9%      1.2%
MURC: S. Kobayashi                             0.2      0.5     1.2%      1.1%
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                                            -Boost to GDP-      -GDP Growth-  
Economist                                   FY2015   FY2016   FY2015    FY2016
                                               PPT      PPT        %         %
===============================================================================
Nomura Sec.: M. Nogimori                       0.2      0.3     1.6%      1.4%
Norinchukin Res: T. Minami                     0.5        1     1.5%      1.5%
RBS Securities: J. Nishioka                    0.2      0.1     1.6%      1.6%
Sumitomo Mitsui Asset Management: H. Muto      0.3      0.3     1.4%      1.6%
UBS Securities: D. Aoki                        0.3      0.3        -         -
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