Japan's Cabinet Office took a knife to its view on the economy for November in its first such downgrade in 10 months
- says weak demand weighed on capital spending and consumer expenditure
Also cut the view on capital expenditure for the first time since December 2021
- saying the pace of recovery was "pausing"
More:
- "The economy is recovering moderately, although some areas showed stalemate recently,"
- "While business conditions and firms' earnings continue to improve, the strength of the corporate sector is not necessarily translating into wages and investment,"
- "Domestic demand such as corporate investment and consumer spending lack strength,"
- expects the economy to continue to recover moderately but there are risks such as those from global monetary tightening and the Chinese economy. Close attention needs to be paid to rising prices, the Middle East situation as well as financial market fluctuations
Bank of Japan Governor Ueda
