英文摘要 |
On October 1, 2013 Prime Minister Abe decided that starting on April 1, 2014 the consumption tax rate will be raised from 5% to 8% over a 17- yer period. In the short term, the increase in the consumption tax rate will have an impact on private consumption, especially in Japan, where private consumption accounts for about two-thirds of all GDP, according to the Cabinet Office. On May 20, 2015 the Office released the “GDP (expenditure approach)and its components” report showing that from January to March 2014 Japan’s private consumption declined by 5.1%, from July to September private consumption rose slightly, from October to December private consumption continued to improve, and from January to March 2015, private consumption increased by 0.4% in terms of growth of 1.4 percent annual growth rate. Private consumption has improved for three consecutive quarters. |