Overall, the increase in domestic demand more than offset the decrease in external demand in the April-June quarter.
Turning to the outlook for Japan's economy, as shown in Chart 7, the medians of forecasts made by the Bank of Japan's Policy Board members for real GDP growth rates presented in the July 2019 Outlook for Economic Activity and Prices (Outlook Report) are 0.7 percent for fiscal 2019, 0.9 percent for fiscal 2020, and 1.1 percent for fiscal 2021.