Revised the judgment that the economy is "stopping lowering" upwards Monthly Economic Report 12:06 June 19
The government released this month's monthly economic report, stating that the economic situation was "very difficult, but it is still bottoming out." We have revised upward from the previous month when it was "rapidly deteriorating", indicating that there is a pick-up trend in personal consumption.
The government summarized its monthly economic report for this month at the relevant ministerial meeting on the 19th.
According to that, "export" is "decreasing rapidly". This is because exports of automobiles and parts have fallen sharply, mainly to Europe and the United States, due to the spread of the new coronavirus.
Along with this, the "corporate production" is also "decreasing."
In addition, the "employment situation" was "weakened" because the unemployment rate in April deteriorated to 2.6% and the number of new job openings has dropped significantly.
On the other hand, “Personal Consumption” has been revised upward, saying that “there has been some signs of picking up recently with the release of the emergency declaration”. This is because the sales of five typical home appliances such as personal computers and air conditioners have exceeded the same period last year this month, and the decline in department store sales has eased this month.
Based on the above, we have stated that the current situation of the economy is "although it is extremely difficult, but it is about to stop lowering."
Although the economy is still in a difficult situation, it shows that the rapid deterioration can be stopped.