Japan’s economy continues to recover, but at a slower pace, according to the government’s monthly economic report. While the overall assessment remains unchanged from last month, the government downgraded its view on exports due to concerns about weakening Chinese demand.
Exports are now described as “moving sideways,” reflecting the impact of China’s struggling economy, which is facing a property market slump and weak domestic demand. Previously, the government had noted a stalling recovery in exports.
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Despite the concerns about exports, the government maintained its view that consumption is also stalling. This indicates a lack of momentum in domestic demand, adding to the cautious outlook for the Japanese economy.