• net exports to improve moderately as a trend, albeit with some fluctuations
  • expansion of overseas production, mainly car makers, likely to weigh on exports for time being
  • ouseold spending to stay firm, reflecting improvements in jobs, income as sales tax effect begins to subside
  • factory output likely to sustain moderate rising trend as sales tax effect fades
  • output by car makers, IT manufactures may remain weak

USDJPY still 102.14