The Japanese government on Thursday left its overall
economic assessment unchanged in its monthly report for November after
downgrading it last month, but it also warned about growing downside
risks due to the European debt crisis and the flooding in Thailand.
"The Japanese economy is still picking up slowly, while
difficulties continue to prevail due to the Great East Japan
Earthquake," it said.
Looking ahead, it repeated: "Reflecting the supply chain recovery
(from the earthquake) and the effect of policy measures, the Japanese
economy is expected to continue to pick up."
But the government warned that Japan's export-led recovery faces
more downside risks - the strong yen and weaker share prices triggered
by the European sovereign debt crisis and the supply chain constraints
caused by the major flooding in Thailand, a key Southeast Asian
production center fro Japanese car and electronics makers. (forexlive.com)
↧