Japan cuts economic outlook for the first time in 10 months

Posted on November 24, 2023   |  

Japan's government revised its economic outlook for November, marking the first time in 10 months, citing weakened demand impacting spending.

Authorities also reduced their perspective on capital spending, a shift noted for the first time since December 2021.

Despite facing challenges in some areas, the government acknowledges a moderate recovery in the overall economy, a departure from its stance since January.

To address the impact of inflation, the government introduced measures involving a spending package exceeding 17 trillion yen ($113 billion).

While anticipating a sustained moderate recovery, the government underscores potential risks, including global monetary tightening and challenges in the Chinese economy.