Xinhua, Tokyo :
Japan lowered its economic view for the first time in five months, owing to a protracted slump in exports which have impacted production.
The Cabinet Office said in its latest monthly report that the economy “is recovering at a moderate pace,” while noting that a weakness has been lasting longer mainly in exports and that exports are in a “weak tone.”
The office said that while business investment is increasing at a moderate pace, weakness has been seen in machinery investment and the tone of industrial production is also weak.
The office initially cut its overall assessment in May, although there was an upturn in July, but in its latest assessment the office highlighted that “attention should be given to situations in overseas economies,” and that attention should be given to the outcome of Britain leaving the European Union.
It added that “consumer sentiment after the consumption tax increase” should also be given due attention, as well as “full attention” be given to “the economic impact of the successive natural disasters including Typhoon No. 19 of 2019.”
Typhoon Hagibis, the 19th of the season, wreaked extensive damage across Japan last weekend, claiming the lives of over 70 people and leaving 2,400 homes partially or completely destroyed
Japan lowered its economic view for the first time in five months, owing to a protracted slump in exports which have impacted production.
The Cabinet Office said in its latest monthly report that the economy “is recovering at a moderate pace,” while noting that a weakness has been lasting longer mainly in exports and that exports are in a “weak tone.”
The office said that while business investment is increasing at a moderate pace, weakness has been seen in machinery investment and the tone of industrial production is also weak.
The office initially cut its overall assessment in May, although there was an upturn in July, but in its latest assessment the office highlighted that “attention should be given to situations in overseas economies,” and that attention should be given to the outcome of Britain leaving the European Union.
It added that “consumer sentiment after the consumption tax increase” should also be given due attention, as well as “full attention” be given to “the economic impact of the successive natural disasters including Typhoon No. 19 of 2019.”
Typhoon Hagibis, the 19th of the season, wreaked extensive damage across Japan last weekend, claiming the lives of over 70 people and leaving 2,400 homes partially or completely destroyed
