Government raises capital spending forecast, sees weakness in economy

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In its economic evaluation report for April, The Japanese government reiterated that the economy is showing some weakness due to the coronavirus pandemic.

The The government raised its opinion on capital spending for the third time this year. “One of the reasons it was updated is that investment in machinery has improved since the second half of last year,” the report noted. The government lowered its opinion on public spending, saying it remained firmly at a high level.

This comes before the government’s announcement of the third state of emergency in Tokyo and three western prefectures this week.

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