In May’s Monthly Economic Report, Japan’s government maintained that the economy “shows movement of picking up”. Private consumption, business investment and industrial production have “shown movement of picking up”. Exports were still “almost flat”.
Employment assessment was upgrade slightly to “shows movement of picking up” rather than just in “some components. Consumer prices “have been rising recently”, with “moderately” dropped.
The government also warned that “full attention should be given to the downside risks due to supply-side constraints, rising raw material prices and fluctuations in the financial and capital markets while there are concerns regarding the effects of the re-spread of the Novel Coronavirus in China and lengthening the state of affairs of Ukraine”.
