Yet another downgrade following the one in October
The Japanese government now states that "the economy is recovering at a moderate pace, while weakness, mainly among manufacturers, is increasing further" in its latest monthly economic report. The November assessment can be found here.
They also downgraded their assessment of industrial production while also highlighting that exports continued on a weak tone. All of this follows the downgrade seen back in October amid concerns over the impact of the sales tax hike that month.
As much as lawmakers and policymakers can keep up a confident facade, this here shows that there are real worries still embedded in the Japanese economy going into 2020.
