Tokyo, January 26 (QNA) – The Japanese government has downgraded its assessment of the country’s economy for the first time in 11 months, saying falling exports are largely to blame.
NHK World – Japan said: “The Cabinet Office’s monthly report for January said that the economy is picking up moderately, but some weaknesses have emerged.”
Exports to Asia have been soft as coronavirus infections in China hinder its production, it added. “Officials also note that global demand for semiconductors is falling.”
The report kept its upbeat assessment of personal spending as “picking up moderately,” saying the pandemic’s impact on travel and other services is easing.
The number of trips during the year-end holiday recovered to near pre-pandemic levels, it said.
(QNA)