Moderate Global Economic Growth and a Recovery Trend in the Domestic Economy

「During the interim consolidated accounting period, Japan's economy showed signs of a moderate recovery, supported by improvements in employment and income conditions. However, the outlook remained uncertain due to the increasing geopolitical risks, including the situation in the Middle East, and volatility in financial and capital markets.」

「雇用・所得環境の改善を背景として、景気の緩やかな回復基調が見られた一方で」

「During the six months ended the interim period, the Japanese economy showed a moderate recovery trend against a backdrop of improving employment and income conditions. However, the outlook remained uncertain due to the increased risk of an economic downturn caused by the impact of US trade policies, continuing price increases and volatility in financial and capital markets.」

「During the first nine months of the current fiscal year, Japan's economy remained on a gradual recovery track as social and economic activity normalized. However, the outlook for Japan's economy remained uncertain due to the prolonged situation in Russia and Ukraine, worsening conditions in the Middle East, globally elevated resource prices, and higher prices resulting from yen depreciation.」

「During the first six months of the current fiscal year, Japan's economy showed signs of normalizing social and economic activity as restrictions related to COVID-19 were eased. However, the outlook for the Japanese economy remained uncertain due to the prolonged Russia-Ukraine situation, soaring global resource prices and rising prices resulting from the weaker yen, among other factors.」

「During the first quarter of the current fiscal year, Japan's economy showed signs of normalizing social and economic activity as restrictions related to COVID-19 were eased. However, the outlook for the Japanese economy remained uncertain due to the prolonged Russia-Ukraine situation, soaring global resource prices and rising prices resulting from the weaker yen, among other factors.」

「During the first nine months of the current fiscal year, Japan's economy continued to face an uncertain outlook. Although efforts to balance COVID-19 infection control with economic activity progressed, resource and raw material prices rose due to the prolonged situation in Ukraine, supply constraints continued in China due to its zero-COVID policy, and rapid foreign exchange fluctuations also occurred.」

「During the first quarter of the current fiscal year, Japan's economy continued to face an uncertain outlook. Although efforts to balance COVID-19 infection control with economic activity progressed, concerns remained over the impact of lockdowns that continued in major Chinese cities, including Shanghai, and the situation in Ukraine. In addition to soaring resource prices and supply constraints, the rapid depreciation of the yen also contributed to the uncertainty.」

「During the consolidated fiscal year, the Japanese economy remained unstable as the prolonged impact of COVID-19 led to a gradual resumption of economic activity and some signs of recovery, but a resurgence of infections due to the spread of variants. In addition, as rising resource prices and shortages of materials, including semiconductors, became evident, concerns grew over the serious and prolonged impact of Russia's invasion of Ukraine on the global economy.」

「During the nine months ended the third quarter, the Japanese economy remained unstable as the prolonged impact of COVID-19 led to a gradual resumption of economic activity and some signs of recovery, but a resurgence of infections due to the spread of variants. Concerns remain over the impact on economic activity of issues surrounding security between the US and China, rising resource prices, and shortages of materials, including semiconductors, and the economic outlook continues to be uncertain.」

「During the six months ended the second quarter, the Japanese economy remained unstable as the prolonged impact of COVID-19 led to a gradual resumption of economic activity and some signs of recovery, but a resurgence of infections due to the spread of variants. Regarding the outlook, an economic recovery is expected as the vaccination rate increases, but the timing of the end of the pandemic remains unforeseeable and the outlook continues to be uncertain.」

「During the three months ended the first quarter, the Japanese economy remained unstable as the prolonged impact of COVID-19 led to a gradual resumption of economic activity and some signs of recovery, but a resurgence of infections due to the spread of variants. A recovery in economic activity is expected as vaccination expands, but the end of the spread of infections remains unforeseeable and the economic outlook continues to be uncertain.」

「During the nine months ended the third quarter, the Japanese economy remained unstable due to deterioration in the employment environment and a slowdown in the recovery of consumption caused by the impact of COVID-19. Overseas, economic activity resumed in China and other countries, but the outlook remained extremely uncertain as the end of the spread of infections could not yet be foreseen.」

「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy deteriorated rapidly as individual consumption and corporate economic activity were severely restricted to prevent the spread of COVID-19. Overseas economies also showed signs of economic activity resuming, particularly in China, but the outlook remained extremely uncertain due to growing concerns over a resurgence of infections and the effects of U.S.-China trade friction, among other factors.」

「During the three months ended the first quarter, the Japanese economy deteriorated rapidly as personal consumption and corporate economic activity were severely restricted to prevent the spread of COVID-19. Overseas, the outlook also remained extremely uncertain due to the spread of COVID-19 and concerns over a prolonged US-China trade dispute, among other factors.」

「During the cumulative second quarter of the current consolidated fiscal year, Japan's economy continued on a recovery trend, with corporate earnings remaining firm and employment and income conditions improving gradually, but growing concern over the prolonged U.S.-China trade friction increased caution about the economic outlook.」

「During the cumulative first quarter of the current consolidated fiscal year, Japan's economy continued on a recovery trend, with corporate earnings remaining firm and employment and income conditions improving gradually, but growing concern over the prolonged U.S.-China trade friction increased caution about the economic outlook.」

「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy continued on a recovery trend, with corporate earnings remaining firm and employment and income conditions improving gradually. Overseas, the global economy continued to recover, but the outlook remained uncertain due to developments in U.S. government policy and trade policy, intensifying global trade friction, and sharp fluctuations in financial and capital markets, among other factors.」

「During the six months ended the second quarter, the Japanese economy remained on a recovery trend, with corporate earnings holding firm and employment and income conditions improving gradually. Overseas, the global economy continued to recover, but the outlook remained uncertain due to concerns over the impact of US economic and trade policies and the risk of rising crude oil prices, among other factors.」

「The economy remained on a recovery trend, partly because signs of moderate growth were seen in the global economy, led by the solid US economy, while employment and income conditions continued to improve.」

「During the first nine months of the current fiscal year, Japan's economy remained on a recovery track. Although rising geopolitical risks overseas and other factors were a concern, signs of moderate growth were seen in the global economy, led by the solid U.S. economy, and improvements in employment and income conditions continued.」

「The economy remained on a recovery trend, partly because signs of moderate growth were seen in the global economy, led by the solid US economy, while employment and income conditions continued to improve.」