MNI BRIEF: Japan Govt Economic Assessment Unchanged in Sept

Japan's government left its main economic assessment unchanged for a third consecutive month and kept its evaluation of all economic components unchanged for the first time since November 2018, the Cabinet Office said on Friday.

“The Japanese economy is picking up moderately,” the assessment said in a repeat of the previous month’s comments.

However, the government tweaked its assessment of the world economy, saying it “continued recovering moderately.” The previous view was “the pace of the world economic recovery is slowing.”

The government maintained its optimistic near-term view, saying Japan’s economy is expected to show signs of picking up, supported by policies “as the transition to a new phase of the new normal is underway.”

The assessment warned that a slowing in global growth posed a downside risk for the Japanese economy “amid ongoing global monetary tightening and other factors.”

“Also, full attention should be given to price increases, supply-side constraints and fluctuations in the financial and capital markets,” including foreign exchange rates, it also said.

As for the major components of Japan’s economy, the government said private consumption is “picking up moderately” and exports are “almost flat.” “Business investment is picking up moderately.”