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2.3 Japan
2016/11/23
The Japanese economy is continuing to show a gradual upswing reflecting the improving employment/income environment, dropping crude oil prices, and other factors influenced by the implementation of economic and fiscal policies. However, the real GDP in 2015 showed only 0.8% growth. The main cause was a drop in private consumption expenditures.
 
According to a breakdown of domestic chiller shipments in fiscal year 2015 (end March 2016) from the Japan Refrigeration and Air Conditioning Industry Association (JRAIA) data, centrifugal chillers showed a 12.5% increase, absorption chillers showed a 7.4% increase, and positive displacement type chillers showed a 3.6% increase, thus showing a marked upturn.
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