The Japanese government slashed its view on the economy for the first time in ten months on Wednesday, citing weak demand weighed on capital capital spending and consumer expenditure, per Reuters
Key quotes
“The economy is recovering moderately, although some areas showed stalemate recently,”
“While business conditions and firms’ earnings continue to improve, the strength of the corporate sector is not necessarily translating into wages and investment,”
“Domestic demand such as corporate investment and consumer spending lack strength,”
Market reaction
At the press time, the USD/JPY pair is losing 0.15% on the day to trade at 148.16.
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