Uncertainty in Overseas Economies and Stagnant Consumer Sentiment

「一方で、米国の高金利政策の継続や中国経済の減速、欧州・中東を中心とした地政学リスクの高まりなど、世界経済の先行きには依然として不透明感が残る状況が続きました。」

「Economic activity in Japan and overseas showed gradual improvement during the fiscal year. However, uncertainty remained high due to expanding geopolitical risks, including U.S. tariff measures, the prolonged situation in Ukraine, tensions in Japan-China relations and concerns about crude oil supply through the Strait of Hormuz.」

「However, the outlook is expected to remain uncertain due to overseas factors including the prolonged situation in Ukraine, escalating tensions in the Middle East and China’s property downturn, as well as higher prices.」

「During the first nine months of the fiscal year, socioeconomic activity continued to normalize following the reclassification of COVID-19 as a Class 5 disease, and the economy recovered gradually. However, the outlook remained uncertain due to heightened geopolitical risks, including the prolonged situation in Ukraine and escalating tensions in the Middle East, as well as surging resource and raw material prices, foreign-exchange volatility and higher prices.」

「During the first six months of the fiscal year, socioeconomic activity continued to normalize following the reclassification of COVID-19 as a Class 5 disease, and changes in consumer behavior were observed. However, the outlook remained uncertain due to the prolonged situation in Ukraine, surging resource and raw material prices, and higher prices accompanying the yen’s depreciation.」

「During the first three months of the fiscal year, socioeconomic activity continued to normalize following the reclassification of COVID-19 as a Class 5 disease. However, the outlook remained unforeseeable due to the prolonged situation in Ukraine, surging resource and raw material prices, and higher prices resulting from the weaker yen.」

「During the first nine months of the fiscal year, economic activity showed signs of gradually normalizing after restrictions on activity related to COVID-19 were lifted. However, the outlook remained uncertain due to the prolonged situation in Ukraine, the rapid depreciation of the yen and higher prices.」

「During the first six months of the fiscal year, the outlook remained uncertain due to the rapid renewed spread of COVID-19 variants, the prolonged situation in Ukraine and higher prices resulting from the weaker yen.」

「During the first three months of the fiscal year, the outlook remained unforeseeable as the impact of COVID-19 continued, while the prolonged situation in Ukraine and higher prices resulting from the weaker yen also affected the economy.」

「Regarding the outlook, the timing of the end of COVID-19 remains unforeseeable, and the outlook is expected to remain uncertain amid developments in the international situation surrounding Ukraine and financial market volatility.」

「During the first nine months of the fiscal year, economic activity continued to stagnate due to the spread of COVID-19 variants. Although the economy showed signs of recovery after vaccinations progressed and the number of infections began to decline, the outlook again became unforeseeable due to the further spread of variants.」

「During the first six months of the fiscal year, economic activity continued to stagnate due to the rapid spread of highly infectious COVID-19 variants. Although there were signs of improvement, including progress in vaccinations and the lifting of states of emergency and other restrictions, the outlook remained unforeseeable.」

「During the first three months of the fiscal year, vaccination against COVID-19 had begun, but concerns arose about the spread of new variants, and the outlook remained unforeseeable due to stagnant corporate activity and employment conditions and sluggish personal consumption.」

「During the first nine months of the fiscal year, amid the absence of signs that COVID-19 was coming under control, infections spread again and the outlook remained unforeseeable.」

「During the first six months of the fiscal year, economic activity in Japan, which had stagnated due to COVID-19, gradually began to resume, but conditions remained uneven and difficult.」

「During the first three months of the fiscal year, economic activity in Japan stagnated due to the global spread of COVID-19. The economy remained in an uncertain state amid deteriorating corporate earnings and employment conditions and stagnant consumption.」

「Regarding the outlook, the spread of COVID-19 had a significant impact on economic and social activity worldwide, and the outlook is expected to remain uncertain as the situation appears likely to be prolonged.」

「During the first nine months of the fiscal year, the Japanese economy remained on a gradual recovery path as employment and income conditions improved. However, the outlook remained uncertain due to the prolonged U.S.-China trade friction and geopolitical risks in Europe and the Middle East.」

「During the first six months of the fiscal year, the Japanese economy remained on a gradual recovery path as improvements in employment and income conditions continued. However, the outlook remained uncertain due to uncertainty in overseas economies, including the prolonged U.S.-China trade friction and the UK’s withdrawal from the EU.」

「During the first three months of the fiscal year, the Japanese economy remained on a gradual recovery path against the backdrop of improving employment conditions. However, the uncertain global situation, including U.S.-China trade friction with no clear resolution in sight, became increasingly unsettled, and the outlook remained uncertain.」

「During the fiscal year, the Japanese economy remained on a gradual recovery path, with corporate earnings and employment conditions continuing to improve. However, concerns remained about the impact of U.S.-China trade friction and geopolitical risks overseas on the domestic economy, and uncertainty about the outlook persisted.」

「During the first nine months of the fiscal year, the Japanese economy remained on a gradual recovery path against the backdrop of improving corporate earnings and employment and income conditions. However, uncertainty about the outlook increased due to the impact of U.S.-China trade friction and the UK’s withdrawal from the EU.」

「During the first three months of the fiscal year, the Japanese economy remained on a gradual recovery path against the backdrop of improving corporate earnings and employment and income conditions. However, the outlook remained uncertain due to higher crude oil prices and growing uncertainty in overseas economies.」

「During the fiscal year, the Japanese economy remained on a gradual recovery path, supported by solid overseas corporate earnings and stronger domestic demand. However, the outlook remained uncertain amid a mix of risk factors, including developments in U.S. policy and heightened geopolitical risks surrounding North Korea.」

「During the first nine months of the fiscal year, the Japanese economy was on a gradual recovery path, with corporate earnings remaining solid against the backdrop of the government’s monetary and economic policies. However, uncertainty increased amid concerns about downside risks to the economy stemming from the slowdown in China’s economy and geopolitical risks, and the outlook remained uncertain.」

「Meanwhile, uncertainty surrounding US politics and geopolitical risks involving North Korea also increased, and the uncertain environment has not been resolved.」

「During the current consolidated fiscal year, Japan's economy remained on a gradual recovery trend supported by the government's ongoing economic measures and the Bank of Japan's monetary easing, but personal consumption showed signs of stagnation, while uncertainty about the outlook continued due to issues including the UK's withdrawal from the EU and the slowdown of emerging-market economies, particularly China.」

「Although the gradual economic recovery continued, supported by the government's economic measures and the Bank of Japan's monetary policy, conditions remained uncertain due to stagnant consumer sentiment and rising uncertainty in overseas economies, among other factors.」