That represents the first downgrade since May earlier this year
The latest assessment sees the government sticking to the view that "the economy is recovering at a moderate pace" but "sees prolonged weakness in exports" now.
Additionally, the government revised lower its view of production and corporate sentiment as they see weakness in output and continued cautiousness among manufacturers.
They also made a mention on the sales tax hike this month, as saying that they pledge to take sufficient measures to prevent the economy from falling off a recovery path.
It's funny how we're consistently seeing negative rhetoric flow through with regards to Japanese data and the outlook but the BOJ continues to say everything is fine.
