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The Japanese government has sharply cut its assessment of the economy – the first such downgrade in 10 months

Japan’s Cabinet Office has revised its assessment of the economy for November with the first such downgrade in 10 months

  • says weak demand weighed on investment and consumer spending

The view of capital expenditure was also reduced for the first time since December 2021

  • said the pace of recovery is “paused”


  • “The economy is recovering moderately, even if there has recently been a stalemate in some areas,”
  • “While business conditions and corporate profits continue to improve, the strength of the corporate sector is not necessarily reflected in wages and investment.”
  • “Domestic demand such as business investment and consumer spending is lacking strength,”
  • assumes that the economy will continue to recover moderately, but there are risks, for example from global monetary policy tightening and the Chinese economy. Particular attention must be paid to rising prices, the situation in the Middle East and fluctuations in financial markets

Ueda, Governor of the Bank of Japan

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