JAPAN

Gross Domestic Product Seen Growing 0.9%: The nation’s gross domestic product, the value of all the goods and services produced in Japan, will grow 0.9% in the year through March, 1995, Japan Research Institute said in a report. The institute revised the forecast upward from the 0.5% it estimated in December. The revision is partly attributable to brisk consumer spending, which is expected to grow 2.4%, according to the report. In December, the institute estimated consumer spending would rise 0.7%. Separately, the Ministry of International Trade and Industry said industrial production for April was revised downward to a 1.2% month-on-month fall from a preliminary 0.8% fall. In year-on-year terms, industrial output in May was revised to a 1.8% decline from an earlier 1.4% fall, the ministry said. The production index stood at 89.8 compared with an earlier 90.20, against a base of 100 for 1990.