Economic Forecast for Japan (as of August 24, 2011)

			2010	2011	2012
			Acrual	Forecast	Forecast
Real GDP (%)			2.3	0.9	1.8
	Private demand *		1.4	0.2	1.1
		Final consumption expenditure (%)	0.8	▲ 0.4	0.2
		Residential investment (%)	▲ 0.3	0.6	5.0
		Nonresidential investment (%)	4.2	1.5	6.7
		Change in private inventory *	0.5	0.2	▲ 0.1
	Public demand *		0.0	1.5	0.1
		Final consumption expenditure (%)	2.2	5.2	1.7
		Public investment (%)	▲ 10.0	13.9	▲ 5.2
		Change in public inventory *	0.0	0.0	0.0
	Foreign demand *		0.9	▲ 0.8	0.6
		Exports (%)	17.0	▲ 0.8	6.0
		Imports (%)	11.0	6.0	2.6
Nominal GDP (%)			0.4	▲ 1.1	1.7
GDP Deflater (%)			▲ 1.9	▲ 1.9	▲ 0.1
CGPI (%)			0.7	2.0	0.2
Core CPI (%)			▲ 0.8	0.4	0.0
Industrial production index (%)			9.0	1.6	6.8
New privately-owned housing units started (%)			5.5	0.9	7.1
Jobless rate (%)			5.0	4.6	4.5
Current balance (Trillion Yen)			15.9	8.8	11.0
	vs nominal GDP (%)		3.3	1.9	2.3
Oil price (US$/Barrel)			84.7	97.1	103.8
Exchange rate (Yen/US$)			85.7	79.4	83.7
The US real GDP (CY)			3.0	1.6	1.9

Note:
(1)▲=negative numbers
(2) * =contribution rate