Japan slashs view on economy for first time in 10 months
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, per 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.
Reprinted from FXStreet_id,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.