Japan slashes view on economy for first time in 10 months

Lallalit Srijandorn FXStreet

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, according to 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.

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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