In this month's Monthly Economic Report, the government has revised up the "production" item, while leaving the judgment that the economy as a whole is "recently picking up."
The government held a ministerial meeting on the 18th to compile this month's monthly economic report, which provides an official view of the economy.
According to this, regarding the item of "production", since the influence of the supply shortage of parts in the automobile industry has eased, the expression "there is a stumbling block in the recovery" until last month is "moving to pick up". Has been revised upward.
The upward revision of "production" is the first in one year and two months.
On the other hand, the expression such as "personal consumption", which accounts for more than half of GDP = gross domestic product, has not changed, and the economy as a whole has been picking up recently as the severe situation caused by the new coronavirus is gradually eased. The judgment that "it can be seen" has been deferred.
Regarding the outlook for the economy, he said, "it is expected to pick up," but he said that it is necessary to pay close attention to the effects of Omicron stocks and trends in raw material prices such as crude oil as risk factors.
Yamagiwa Economic Revitalization Minister "Personal consumption will be pushed down by the spread of infection"
At a press conference after the relevant ministerial meeting, Mr. Yamagiwa, the minister in charge of economic revitalization, said, "Infection of Omicron strains is spreading rapidly at the moment. It may be a factor to push down personal consumption." He showed a sense of caution about the future.