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MNI POLICY: Japan Govt Economic View Unchanged In Jan

--Japan economy shows movements of picking up

--Govt Ups view on Capex; Lowers view on Private consumption

TOKYO (MNI)

Japan's government left its main economic assessment unchanged for the seventh straight month on Friday, noting "the Japanese economy is still in a severe situation due to the Novel Coronavirus but it is showing movements of picking up."

Alongside that, the government upgraded its assessment on capital investment for the first time since September 2018, saying, "Business investment is starting to level off" an improvement on "is decreasing recently."

Private consumption was lowered the second straight month as spending in the service sectors was hit by the second state of emergency as infections spread, with the recent recovery now seen "pausing".

The government mostly retained its near-term overall outlook, saying the economy is expected to show signs of picking up, as fiscal and monetary policies kick in and the improvement in overseas economies while taking measures to prevent the spread of infectious diseases."

However, the report said that full attention should be given to a further "increase" in downside risks due to the spread of the disease "in Japan and abroad." Also attention should be given to the impact of fluctuations in financial and capital markets."

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