Japan - Upswing on fragile basis

In Japan the real gross domestic product increased by only 0.2% in 2002. The unemployment rate for the year stood at an average of 5.4%, and prices sank - for the fourth year in succession - by 0.9%. This year real GDP should expand by 2.7%. On the labour market no improvement is evident, and consumer prices will fall again by around 0.4%. In 2004 real GDP will grow by around 1.8%. The unemployment rate will increase to 5.5% and consumer prices will decrease by 0.3%.