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ECONOMY > Economic Indicators

Japanese agency maintains downbeat economic view

  • March 6, 2020
  • , Jiji Press , 6:07 p.m.
  • English Press

Tokyo, March 6 (Jiji Press)–Japan’s Cabinet Office maintained its downbeat assessment of the country’s economy on Friday after reporting a slight increase in the composite index of coincident indicators for January.
   

The index, which reflects current economic conditions, rose 0.3 point from the previous month to 94.7 against the 2015 base of 100, its first increase in four months, the government agency said in a preliminary report.
   

Giving the same assessment for the sixth consecutive month, the agency said the index is “worsening,” indicating a high possibility of a recession.
   

Five of the seven component indicators improved, thanks to rises in the production and shipments of aircraft, railcars and vehicles.
   

The spreading coronavirus outbreak had no particular impact, the Cabinet Office said.
   

The leading index, a yardstick for the economy’s performance months ahead, fell 0.7 point to 90.3.
   

The government’s official view shown in its monthly report is that the economy is recovering moderately.
   

But concerns are growing that the country has already entered a recession phase, following an economic expansion that started in December 2012.

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