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Japan’s government maintained its economic assessment on Wednesday but downgraded its view on capital spending.

Retaining the economic view, the Cabinet Office said Japanese economy is still in a severe situation due to the Novel Coronavirus, but it is showing movements of picking up.

Downgrading its assessment of business investment, the government said investment is decreasing recently. In October report, the cabinet office said business investment is showing weakness.

The government repeated that private consumption is picking up. Also, the government retained its view on exports and industrial production. Both exports and industrial production are picking up, the cabinet office added.

Corporate profits are decreasing substantially as a whole due to the influence of the infectious disease.

Employment situation showed steady movements in some components such as the number of employees, while weakness remains, due to the influence of the infectious disease, the report revealed.

Further, the government said consumer prices are flat.


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