Japan

 Pre-Meeting Forecasts,Oct 2005                                           Project LINK - UN/DIESA Oct. 26th 2005

                                  |  2003    2004  %chg    2005  %chg    2006  %chg    2007  %chg    2008  %chg  |
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                                Aggregate Demand (Billions of Yen, Current Prices)
 PRIV CONSUMPTION     34 CP       |282776. 285321.   0.9 290171.   1.7 294814.   1.6 299825.   1.7 305821.   2.0 |
 PUBL CONSUMPTION      6 CG       | 87914.  89119.   1.4  90958.   2.1  92422.   1.6  93910.   1.6  95421.   1.6 |
 PRIV INVEST N.R      37 IFP      | 74129.  77242.   4.2  82417.   6.7  87032.   5.6  91123.   4.7  95041.   4.3 |
 PRIV INVEST RES      36 IHP      | 17729.  18205.   2.7  18580.   2.1  18817.   1.3  19291.   2.5  20353.   5.5 |
 PUBL INVESTMENT      17 IG       | 27416.  24644. -10.1  22719.  -7.8  21063.  -7.3  19723.  -6.4  18945.  -3.9 |
 PRIV INV CHANGE      39 IIP      |  -112.    503. *****   1945. 286.6   2158.  11.0   2350.   8.9   2549.   8.5 |
 EXPORTS OF G+S       23 EGS      | 58858.  66510.  13.0  68970.   3.7  72005.   4.4  75533.   4.9  79234.   4.9 |
 IMPORTS OF G+S       26 MGS      | 50895.  57512.  13.0  59640.   3.7  62264.   4.4  65315.   4.9  68515.   4.9 |
 GROSS DOM PROD       49 GDP      |497799. 504768.   1.4 510825.   1.2 521552.   2.1 534069.   2.4 545284.   2.1 |
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                                 AGGREGATE DEMAND (BILLIONS OF YEN, 1990 PRICES)
 PRIV CONSUMPTION      1 CP95     |291622. 295996.   1.5 301620.   1.9 306144.   1.5 310736.   1.5 316329.   1.8 |
 PUBL CONSUMPTION      5 CG95     | 89939.  92345.   2.7  93868.   1.6  94804.   1.0  95125.   0.3  95361.   0.2 |
 PRIV INVEST N.R      12 IFP95    | 79965.  84603.   5.8  91032.   7.6  95948.   5.4 100265.   4.5 104276.   4.0 |
 PRIV INVEST RES       8 IHP95    | 18195.  18596.   2.2  19063.   2.5  19252.   1.0  19582.   1.7  20437.   4.4 |
 PUBL INVESTMENT      16 IG95     | 28456.  25390. -10.8  23412.  -7.8  21632.  -7.6  20054.  -7.3  19045.  -5.0 |
 PRIV INV CHANGE      19 IIP95    |  -121.    790. *****   1992. 152.4   2206.  10.7   2382.   8.0   2557.   7.4 |
 EXPORTS OF G+S       22 EGS95    | 60742.  69550.  14.5  72401.   4.1  75659.   4.5  78913.   4.3  82069.   4.0 |
 IMPORTS OF G+S       25 MGS95    | 50026.  54478.   8.9  58128.   6.7  60744.   4.5  62748.   3.3  65258.   4.0 |
 GROSS DOM PROD       31 GDP95    |518891. 532381.   2.6 543561.   2.1 553888.   1.9 563304.   1.7 573443.   1.8 |
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                          Balance of Payments (Billions of U.S. Dollars, Current Prices)
 EXPORTS SITC 0-1    279 VXL01    | 2.1313  2.4160  13.4  2.4956   3.3  2.5565   2.4  2.6228   2.6  2.6944   2.7 |
         SITC 2+4    280 VXL24    | 3.9364  4.6830  19.0  4.9672   6.1  4.9170  -1.0  5.0218   2.1  5.1363   2.3 |
         SITC 3      281 VXL3     | 1.9221  2.5820  34.3  3.8804  50.3  4.2640   9.9  4.3067   1.0  4.3583   1.2 |
         SITC 5-9    282 VXL59    | 441.21  529.62  20.0  571.05   7.8  610.56   6.9  638.25   4.5  661.92   3.7 |
        ALL GOODS    283 VXL09    | 449.20  539.30  20.1  582.40   8.0  622.30   6.9  650.20   4.5  674.11   3.7 |
 IMPORTS SITC 0-1    289 VML01    | 37.015  42.450  14.7  43.091   1.5  43.826   1.7  44.854   2.3  46.015   2.6 |
         SITC 2+4    290 VML24    | 21.978  25.833  17.5  28.114   8.8  27.518  -2.1  28.517   3.6  29.507   3.5 |
         SITC 3      291 VML3     | 75.823 101.360  33.7 152.087  50.0 165.923   9.1 167.122   0.7 168.572   0.9 |
         SITC 5-9    292 VML59    | 207.48  237.56  14.5  250.91   5.6  263.03   4.8  273.81   4.1  292.00   6.6 |
        ALL GOODS    293 VML09    | 342.30  407.20  19.0  474.20  16.5  500.30   5.5  514.30   2.8  536.10   4.2 |
 FOB TRADE BAL.      312 TBL      |106.900 132.100  23.6 108.200 -18.1 122.000  12.8 135.900  11.4 138.000   1.5 |
 EXCH RATE(LOC/$)     60 REX      | 115.93  108.20  -6.7  108.00  -0.2  110.00   1.9  110.00   0.0  110.00   0.0 |
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                                             Key Economic Indicators
 GDP DEFLATOR         30 PGDP     | 0.9594  0.9479  -1.2  0.9393  -0.9  0.9412   0.2  0.9478   0.7  0.9507   0.3 |
 PRIV CONS DEFL        3 PCP      | 0.9697  0.9639  -0.6  0.9619  -0.2  0.9629   0.1  0.9648   0.2  0.9667   0.2 |
 CPI                  58 CPI      |  98.03   97.89  -0.1   97.60  -0.3   98.06   0.5   98.74   0.7   99.83   1.1 |
 PRIV INV DEFL        38 PIFP     | 0.9272  0.9124  -1.6  0.9042  -0.9  0.9060   0.2  0.9078   0.2  0.9105   0.3 |
 DEF FOR EGS          24 PEGS     |   0.97    0.95  -1.5    0.95  -0.4    0.96   0.9    0.97   0.6    0.97   0.9 |
 DEF FOR MGS          27 PMGS     |   1.02    1.04   2.1    1.10   5.5    1.13   3.3    1.15   1.6    1.17   1.4 |
 WAGE PER EMPL        59 WAGE     | 49.792  49.167  -1.3  49.170   0.0  49.441   0.6  50.073   1.3  51.078   2.0 |
 UNEMPLOYMENT   %     75 RU       | 5.2517  4.7191 -10.1  4.5757  -3.0  4.4848  -2.0  4.3396  -3.2  4.2424  -2.2 |
 BANK LOAN RATE %    123 RLB      | 1.8221  1.7689  -2.9  1.7400  -1.6  1.7428   0.2  1.8535   6.3  2.0910  12.8 |
 GOV. NOTES RATE%    128 RLBOND   | 0.9876  1.4983  51.7  1.5936   6.4  1.6275   2.1  2.0305  24.8  2.4089  18.6 |
 MONEY SUPPLY        122 M2CD     | 679.51  692.20   1.9  701.96   1.4  717.02   2.1  730.15   1.8  739.96   1.3 |
 IND PROD INDEX       20 IPI      |  95.05  100.14   5.4  100.65   0.5  101.24   0.6  101.65   0.4  102.14   0.5 |
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Generated October 28, 2005.
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