Japan Govt Cites Weakening Consumer Mind in Monthly Report

Tokyo, April 23 (Jiji Press)–The Japanese government on Thursday underlined the need to keep a close watch on weakening consumer sentiment amid concerns about the economic outlook due to tensions in the Middle East. “Private consumption shows movements of picking up,” the Cabinet Office said, leaving its assessment on the sector unchanged. Still, the government agency said that “attention should be given to weak movements of consumer sentiment recently.” The government kept its assessment on the overall economic situation unchanged in a monthly economic report, saying, “The Japanese economy is recovering at a moderate pace, while attention should be given to the effects caused from the situation in the Middle East.” Regarding the deterioration in consumer sentiment, a Cabinet Office official said that while it could lead to restrained consumption going forward, developments in the real economy should be closely monitored. In the April report, the government revised up its assessment on business investment for the first time in seven months, saying that it is “picking up.” The March report said that it is “picking up moderately.” Although demand for corporate investment in energy-saving measures remains steady, the Cabinet Office said that whether companies review their investment plans amid the deteriorating situation in the Middle East needs to be closely watched. The government agency also said that public investment holds steady, upgrading from last month’s “holds firm.” Views on exports and imports were kept unchanged at “almost flat.” END [Copyright The Jiji Press, Ltd.]