- cites falling output
More detail to follow
- CAO cuts output assessment saying ” industrial production is decreasing recently” in reaction to the jump in demand prior to April’s sales-tax increase
- “private consumption appears to be pausing recently” as does the improvement in corp profits
- CAO says economy is expected to recover ” although weakness remains for the time being”
- risk inc a protracted reaction to the tax rise and slowdowns in overseas economies
The review echoes previous comments on output by Kuroda
USDJPY 106.61 after the repeated reality check
