Japan to revise wage calculation in GDP; likely also to revise budget based on data errors
Labour Ministry reveals it understated monthly regular wage data from 2004 to 2017 due to inaccurate polling methods
Tokyo
JAPAN'S government said on Friday it will amend the calculation of workers' compensation in the nation's gross domestic product (GDP) and probably revise its draft budget after it understated wages data for more than a decade due to faulty polling methods.
The revisions are not expected to change the pace of economic growth. All the same, it is an embarrassment for Prime Minister Shinzo Abe, because his government has enacted several policies to eliminate the risk of deflation by encouraging wages to rise.
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