60 seconds with Keith Wade on Japan's economic outlook
Chief Economist, Keith Wade comments on the Japanese economy, and why he expects 2015 to be a good year for the country.
Schroders chief economist and strategist Keith Wade highlights the reasons why Japan's economy could improve in 2015:
- Japan is a big importer of oil and the fall in oil price will drive down inflation, meaning that real incomes in Japan will be positive, which will be a great help to the consumer.
- The consumer is also going to benefit in 2015 as there aren’t any tax increases, which really hit the economy in 2015.
- Finally, the fall in the yen means that the Japanese corporate sector is now very competitive, which should flow through into strong export growth and will support GDP growth in Japan.