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Japan government sees some weakness in economy

Japan factory worker
Asia   The economy in Japan is recovering moderately

The Japanese government said it sees some weak spots in the economy, but kept its overall assessment unchanged, saying the economy is recovering moderately.

In its monthly economic report for November, the government downgraded its view on business investment and said it sees weakness in some areas of the economy such as production and exports.

The government upgraded its view on imports this month. The November assessment followed effective downgrades of the overall economy for two consecutive months.

Data showed earlier this month the Japanese economy shrank at an annualized rate of 0.8% in the July-September period from the previous quarter, following a 0.7% contraction in the second quarter.

The government said in the report that it has outlined a plan to integrate the pan-Pacific trade agreement into economic revitalization efforts and will take steps to address structural challenges such as declining birth rate and aging population.


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