Japan Says Economy Recovering Moderately, Warns Of Risks
The Japanese government says the country's economy is moderately recovering in a new report.
It says business investment improved as the coronavirus ebbed, but warned that fluctuations in the yen could pose a risk.
The Cabinet Office's economic report for October upgraded its assessment of business investment for the first time in eight months.
Officials say companies are putting more money into digitalization and decarbonization.
Businesses had postponed these efforts during the height of the pandemic.
The assessment for imports was downgraded to "almost flat" as shipments of personal computers and furniture from China and other countries in Asia fell.
The report maintained its view of private consumption, saying it is picking up moderately.
It says sales at restaurants and the occupancy rate at accommodation facilities have both improved.
The government remains cautious about the future outlook.
Officials say rising prices and the rapid depreciation of the yen are sources of concern.