Japan's government slashed its view on the economy, first such downgrade in 10 months

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</p><p><span>Japan's Cabinet Office took a knife to its view on the economy for November in its
first such downgrade in 10 months</span></p><ul><li><span>says weak demand weighed on
capital spending and consumer expenditure</span></li></ul><p><span>Also cut the view on capital expenditure for
the first time since December 2021</span></p><ul><li><span>saying the pace of recovery
was "pausing"</span></li></ul><p><span>More:</span></p><ul><li><span>"The economy is recovering moderately, although some areas
showed stalemate recently," </span></li><li><span>"While business conditions and firms' earnings continue to
improve, the strength of the corporate sector is not necessarily
translating into wages and investment," </span></li><li><span>"Domestic demand such as corporate investment and consumer
spending lack strength," </span></li><li><span>expects the economy to continue to recover
moderately but there are risks such as those from global
monetary tightening and the Chinese economy.
Close attention needs to be paid to rising prices, the
Middle East situation as well as financial market fluctuations</span></li></ul><p><span><br></span></p><p><span><br></span><br></p><p><br></p><p><br></p><figure data-media-><img src="https://images.forexlive.com/images/Bank%20of%20Japan%20Governor%20Ueda%2003%20October%202023_id_ea6f0124-0147-492a-8669-e613dbf754c7_original.jpg" alt="Bank of Japan Governor Ueda 03 October 2023" width="638" height="517" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/Bank%20of%20Japan%20Governor%20Ueda%2003%20October%202023_id_ea6f0124-0147-492a-8669-e613dbf754c7_original.jpg" /></figure><p>Bank of Japan Governor Ueda</p>

This article was written by Eamonn Sheridan at www.forexlive.com.