Uncertainty Surrounding Overseas Economies

「一方で、各種物価上昇による消費への影響に加え、各種金利の上昇と、それ伴う為替・株式市場の急変動、地政学リスクが継続するなど、景気の先行きについては引き続き不透明な状況となっております。」

「Japan’s economy during the current consolidated fiscal year was on a recovery trend, supported by improvements in employment and income conditions. However, the outlook for the economy remained uncertain due to continued increases in various prices and interest rates and, more recently, higher energy prices, soaring prices of petroleum-derived products, and supply stoppages resulting from the increasingly tense situation in the Middle East.」

「Japan’s economy during the current interim consolidated accounting period continued to recover, supported by ongoing improvements in employment and income conditions and inbound demand, but uncertainty regarding the outlook remained due to continued price increases, unstable foreign exchange rate trends, geopolitical risks, and the impact of rising prices on personal consumption.」

「Japan’s economy during the current interim consolidated accounting period continued to recover, supported by improvements in employment and income conditions and expanding inbound demand, but uncertainty regarding the outlook remained due to rising prices and unstable foreign exchange rate trends resulting from domestic and overseas monetary policies.」

「Japan’s economy during the current consolidated fiscal year was on a recovery trend as COVID-19 was reclassified as a Category V infectious disease in May 2023, bringing about the normalization of social and economic activity. However, the outlook for the economy remained uncertain due to heightened international tensions, the yen’s depreciation, increases in various prices including resource and energy prices, and the Bank of Japan’s lifting of its negative interest rate policy.」

「Meanwhile, uncertainty regarding the outlook continued due to higher raw material and logistics costs resulting from supply chain disruptions, a rapid depreciation of the yen, and increases in resource and energy prices.」

「Meanwhile, resource prices, including crude oil, and commodity prices rose further as a result of Russia’s invasion of Ukraine, leaving the outlook for the economy in an unprecedentedly uncertain situation.」

「During the nine-month period ended in the third quarter, Japan's economy remained on a gradual recovery trend, with improvements in employment and income conditions. However, uncertainty surrounding consumer sentiment following the consumption tax rate increase in October last year remained, while concerns also persisted over developments in trade issues and other matters, leaving the outlook uncertain.」

「Japan’s economy during the first quarter of the current consolidated cumulative period remained on a gradual recovery trend overall, with corporate earnings supported by firm domestic demand and employment and income conditions remaining solid, although uncertainty regarding the outlook, including the impact of trade issues, continued.」

「Japan’s economy during the third quarter of the current consolidated cumulative period continued to see recovery in corporate earnings, employment conditions and personal consumption, supported by the government’s economic policies and the Bank of Japan’s continued monetary easing, but uncertainty regarding the outlook, including overseas trade friction and stock market conditions, was increasing.」

「Japan’s economy during the first quarter of the current consolidated cumulative period continued to recover gradually, supported by improvements in employment and income conditions and higher corporate earnings, while overseas economies remained uncertain regarding their outlook due to trade friction and other factors.」

「Although the housing industry in the next period faces concerns including the impact of trade friction and foreign exchange rates as external factors, and condominium inventory adjustments and the completion of inheritance-tax planning demand as internal factors,」

「However, some concerns, including increases in personnel and labor costs due to labor shortages and rising geopolitical risks, continued to emerge regarding the outlook.」

「However, some concerns, including rising geopolitical risks, continued to emerge regarding the outlook.」

「Japan’s economy during the first quarter of the current consolidated cumulative period was on a gradual expansionary trend, as personal consumption became increasingly firm and the positive cycle from income to spending strengthened, although concerns about uncertainty in overseas economies remained.」