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2.3 JAPAN
2017/11/20
In the first half of 2016, adversely affected by the soaring yen rate and deceleration of overseas economies, Japan’s export business turned downward and capital investment remained weak. In the second half of 2016, however, reflecting the rallying world economy, exports and personal consumption regained momentum, and the Japanese economy entered a recovery phase, so the Japanese economy in fiscal year 2016 (end March 2017) showed a 1.3% increase in real GDP.
 
According to the data from JRAIA, a breakdown of domestic chiller shipments in fiscal year 2016 shows that displacement type chillers showed a 1.2% drop and centrifugal chillers showed a 6.9% drop, while absorption chillers recorded a 6.2% jump. In fiscal year 2017, thanks to the recovery of corporate profit due to a cheaper rate of the yen, also rallying overseas economies, restraints on equipment investment will be loosened and personal consumption is expected to recover slowly but surely, strengthened by an improvement in the employment situation.
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