Financial News: Japan Govt Maintains Economic View

Japan Govt Maintains Economic View

11/26/2024 - 05:36:00 (RTTNews)

(RTTNews) - The Japanese government retained its economic assessment for the fourth straight time on Tuesday, saying the economy is recovering at a moderate pace, although it remains pausing in part.

In the monthly economic report for November, the Cabinet Office said the moderate recovery is likely with improving employment and income situation, supported by the effects of the policies. However, the government cautioned that the slowdown of overseas economies, the effects of high interest rates in the U.S. and Europe, and the lingering stagnation of the real estate market in China are downside risks to the Japanese economy.

The government repeatedly said that private consumption and business investment show movements of picking up. Reiterating its view on shipments and industrial production, the office said exports are almost flat and industrial production is flat recently. Further, the office said corporate profits are improving as a whole, unchanged from the previous statement. Regarding the job market, the office said the employment situation shows movements of improvement, the same as in September report.

However, the office revised its assessment about consumer prices. "Consumer prices have been rising moderately," the Cabinet Office said.

In the third quarter, economic growth slowed to an annualized 0.9 percent on weaker investment. However, consumer spending posted a strong expansion.

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