Making its economic assessment for October, Japan's government described th...
TOKYO - Making its economic assessment for October, Japan’s government described the economy as recovering at a moderate pace, but said exports were showing prolonged weakness, which was a slightly bleaker view than last month.
But the downbeat estimation could lead to calls on the government to swiftly open its purse strings and add pressure to the Bank of Japan to ease monetary policy this month. The softness in production was largely due to car exports to the United States turning weaker, after growing steadily until the spring, a government official said at a briefing.
But it said attention should be paid to consumer sentiment following this month’s sales tax hike, and the economic impact of natural disasters, including a powerful typhoon that struck Japan last week, killing at least 77 people.
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