Japan’s government downgrades its view on the economy in February

The Japanese Cabinet Office said in its report on Wednesday, the government downgraded its view on the economy in February, marking the first downgrade since November 2023.

Key takeaways

Economy is recovering moderately though it appears to be stalling recently.

Japan slashes view on consumer spending for first time since February 2022, says recovery is stalling.

Japan downgrades view on industrial production for first time since March 2023.

Japan says industrial production hurt by suspension of some auto production, shipments.

Market reaction 

The Japanese Yen keeps the offered tone intact against the US Dollar following the above report. At the time of writing, the USD/JPY pair is trading around 150.10, up 0.06% on the day.