xpect moderate to solid growth supported by monetary poky, easing fiscal drag, growing consumer demand. increasing wages and EUR depreciation. PMI Manufacturing/Services Average Real Earnings Consumer Confidence Japan's economy should be supported by aggressive monetary policy, a pick up in export activity as glo

. growth in 2016. Source: Deutsche Bank Wealth Management. Deutsche Bank Wealth Management 3 Belgium Manufacturing Survey Consumer Sentiment PMI Manufacturing/Services Cement Output Average Real Earnings Housing Prices Consumer Confidence Retail/Auto Sales Inflation Inflation We expect moderate to solid grow