Japanese government cuts its outlook for exports
The downshift in the view on exports is the first in 7 months
- From Japan's government October economic report via Reuters report
- Asia-bound shipments of cars and electronic parts peaked out amid supply chain constraints and China's economic slowdown
- the government maintained its overall economic assessment, pointing to signs of recovery in private consumption, especially in service spending, as a COVID-19 state of emergency was lifted thanks to a sharp fall in nationwide infection numbers.
- "The economy continues to pick up but the pace of recovery is slowing"
Japan's new PM Kishida has dissolved the lower house of parliament, in readiness for the October 31 general election. Kishida's party will likely compile a large stimulus package to help along the economic recovery from the pandemic.