Economic Slowdown in Emerging Asian and Resource-Rich Countries and Uncertainty Over the Economic Outlook

「In addition, uncertainty remains over the outlook for economic conditions and consumption due to developments in the trade and monetary policies of major countries, fluctuations in foreign exchange rates and resource prices, and geopolitical risks, requiring continued caution.」

「The outlook remains uncertain amid concerns about US tariff policy, exchange-rate developments and continued price increases as downside risks to the economy.」

「為替相場の動向や原材料・エネルギー価格の変動、地政学的リスクの高まりなどにより、先行きは不透明な状況が続くものと予想されます。」

「On the other hand, the economic outlook remains uncertain due to rising prices resulting from geopolitical risks and the weaker yen.」

「On the other hand, the outlook remains uncertain due to the rapid depreciation of the yen, concerns about a slowdown in overseas economies, instability in Ukraine and the Middle East, and continued elevated resource and material prices.」

「During the cumulative third quarter period (1 March 2023 to 30 November 2023), Japan's economy moved toward normalization of economic and social activity as restrictions on activities related to COVID-19 were eased further, with personal consumption recovering and the number of visitors from overseas increasing. On the other hand, the outlook remained uncertain due to elevated resource prices resulting from unstable global conditions and rising prices against a backdrop of the weaker yen.」

「On the other hand, resource and raw material prices remain elevated due in part to unstable global conditions, and the outlook remains uncertain.」

「In addition, prices continue to trend upward due to higher material prices and the weaker yen. The end of the conflict in Ukraine, which contributed to higher prices, remains unforeseeable, while the situation surrounding Taiwan is also becoming increasingly tense.」

「In addition, the conflict in Ukraine, which began in February 2022, caused resource prices, including energy prices, to surge. Most major countries around the world face some form of domestic problem, and tensions between countries are also rising. Against this backdrop, prices for various goods and services are rising globally. In Japan, where growth potential remains insufficient, the effects of higher material prices and the weaker yen, together with rising wages, have resulted in severe cost inflation.」

「During the cumulative second quarter period (1 March 2022 to 31 August 2022), Japan's economic recovery slowed due to the seventh wave of COVID-19. However, as the government's policy of balancing infection control with socioeconomic activity remained in place, personal consumption and capital investment began to recover, and corporate earnings also showed signs of improvement. On the other hand, the economic outlook remained uncertain due to soaring energy and raw material prices resulting from the prolonged situation in Ukraine, the rapid depreciation of the yen and concerns about an economic recession in Europe and the US caused by monetary tightening.」

「During the cumulative first quarter period (1 March 2022 to 31 May 2022), Japan's economy showed a moderate recovery, particularly in services consumption, as the spread of COVID-19 subsided. However, concerns remain that corporate performance will come under downward pressure from supply chain disruptions, in addition to rising energy and raw material prices, various cost increases caused by the sharp depreciation of the yen and the prolonged situation in Ukraine, and the outlook is expected to remain highly uncertain.」

「The outlook remains uncertain amid concerns about downside risks from the spread of highly infectious variant strains, in addition to stronger inflationary pressure resulting from higher resource prices, particularly oil prices.」

「A recovery is expected due to the wider rollout of vaccines, the effects of various policies and improvements in overseas economies. However, the timing of the pandemic's end remains uncertain, as the state of emergency has been reimposed due to the spread of variant strains and pressure on medical systems, and concerns about downside risks to the economy from the spread of infections in Japan and overseas continue.」

「A recovery is expected as the global economy trends toward recovery and COVID-19 vaccination becomes more widespread, but the effects of COVID-19 are expected to continue for the time being amid concerns about the spread of variant strains.」

「After the state of emergency was lifted, domestic economic activity gradually resumed and signs of a moderate recovery emerged, partly due to the effects of various government measures. However, the spread of infections was accelerating both in Japan and overseas, and the situation remained unpredictable.」

「The economy experienced a sharp downturn due to the stagnation of economic activity in Japan and overseas and the contraction of inbound demand resulting from the spread of COVID-19. Although domestic economic activity gradually resumed after the state of emergency was lifted and an economic recovery was expected, concerns about a resurgence of infections had not been dispelled and the situation remained unpredictable.」

「The outlook remains uncertain amid concerns about heightened downside risks to domestic and overseas economies, as the timing of the end of the pandemic remains unclear, the possibility of a new wave of infections persists, overseas travel restrictions in various countries have eliminated inbound demand, and supply chain risks have become apparent.」

「The outlook remains uncertain due to prolonged US-China trade frictions, the slowdown in the Chinese economy and uncertain developments in overseas economies, including the UK's withdrawal from the EU.」

「Greater attention continues to be required regarding the impact on the global economy of escalating US-China trade frictions, the slowdown in the Chinese economy and the UK's withdrawal from the EU.」

「Greater attention continues to be required regarding the impact on the global economy and trade of escalating US-China trade frictions, concerns about the outlook for the Chinese economy and the UK's withdrawal from the EU.」

「In addition, the effects of US-China trade frictions becoming more pronounced and the slowdown in the Chinese economy are putting downward pressure on Japanese companies' exports, and overseas economies are expected to remain uncertain, including due to persistent geopolitical risks.」

「Concerns about factors causing uncertainty in the global economy, including instability in Europe and expanding trade frictions resulting from protectionist US trade policy, continue.」

「Concerns about political and economic factors causing uncertainty in the global economy, including geopolitical risks and the impact of US trade policy, continue.」

「On the international front, the outlook remains uncertain amid concerns about the impact on financial and capital markets of protectionist policy initiatives by the US administration and rising geopolitical risks in Asia.」

「On the international front, the outlook remains uncertain amid concerns about the impact on financial and capital markets of protectionist policy developments under the US administration and rising geopolitical risks related to North Korea.」

「On the international front, the outlook remains uncertain amid concerns about the impact on financial and capital markets of protectionist policy developments under the US administration and rising geopolitical risks related to North Korea.」

「There are concerns about the impact on the global economy of protectionist policy developments under the new US administration and rising geopolitical risks, including those related to North Korea.」

「The outlook remained uncertain amid concerns about growing uncertainty in overseas economies and the impact on financial and capital markets arising from an economic slowdown in emerging economies, the UK's decision to leave the EU and policy developments under the new US administration.」

「The economic outlook remained uncertain amid concerns about the impact of downside risks to the economies of emerging Asian countries, particularly China, the UK's decision to leave the EU and the US administration's transition on growing uncertainty in overseas economies and volatility in financial and capital markets.」

「However, amid growing uncertainty in overseas economies, including the economic slowdown in emerging Asian and resource-rich economies, particularly China, and the issue of the UK's withdrawal from the EU, the economic outlook remained uncertain.」

「Economic slowdown in emerging Asian and resource-rich economies, including China」