In its monthly financial reportthe government of Japan maintained the view that its economy is “moderately picking up”while raising the prospects for factory output.
Key points
“The economy is picking up moderately.”
“It is expected to pick up in the future, as we are willing to take all possible measures to avoid infections as socioeconomic activity normalizes.”
“We maintain our economic view that the economy is gradually improving.”
“We raised our factory production forecast for the first time in seven monthsas production appears to be improving.”
“Production recovered from declines seen in April and May as China’s anti-coronavirus lockdowns eased.”
“The downward deviation of the global economy from global monetary tightening is emerging as a risk weighing on the Japanese economy.”
“You have to pay full attention to supply constraints and the impact of rising prices on households and corporations.”
Source: Fx Street
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