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Japan government downgrades economic assessment

Japan Cabinet Office lowers its monthly economic assessment for the first in 11 months. It said, “the economy is recovering moderately but some weakness is seen recently.”

Also assessment on exports was downgraded for the first time since 2011. Both exports and imports are “weakening recently” compared with its previous view of “almost flat” last month.

“China’s coronavirus rebound could affect Japan’s exports and production and such a possibility has become clearer than last month,” said an official at the Cabinet Office.

Assessment on domestic demand and private consumption was maintained as “picking up moderately”.

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