TOKYO, Aug. 8 -- Ministry of Economy, Trade and Industry of Japan issued the following news release:
I. Opinions on Economic and Financial Developments Economic Developments
Japan's economy has recovered moderately, although some weakness has been seen in part. Japan's economic growth is likely to moderate due to the effects of trade and other policies in each jurisdiction. Thereafter, however, Japan's economic growth rate is likely to rise, with overseas economies returning to a moderate growth path.
Agreement in tariff negotiations between Japan and the United States represents great progress and will lead to reduced uncertainty regarding Japan's economy. These developments do not require the Bank to change the baseline scenario from the previous Outlook for Economic Activity and Prices (Outlook Report); meanwhile, the likelihood of this baseline scenario being realized has increased.
While, in Japan, the amount of exports from industries such as transportation machinery and large machinery to the United States is large, the impact of tariffs has not been widely seen in the results of the Tankan (Short-Term Economic Survey of Enterprises in Japan) and other surveys. This may be because many of the industries covered by these surveys, such as nonmanufacturing, are less directly affected by tariffs.
Regarding trade policies, attention is warranted on the fact that Japan's economy is entering a phase where the effects of front-loading of exports seen thus far will dissipate and the adverse effects of the tariffs will be seen.
The rest of the document can be viewed at https://www.japan.go.jp/publications/news/economy.html
Disclaimer: Curated by HT Syndication.
