Economic Slowdown in China and Emerging Markets and Uncertainty over the Outlook for the Global Economy
First written in FY2016-Q3. 19 of 37 entries say "Worsened", first in FY2016. Latest entry: FY2026.
The whole theme swung hardest in 2022: 124 of 167 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Risks to the global economy remain, including the possibility of further escalation in the situation in the Middle East, supply chain disruptions and the fragmentation of trade.」
In addition to existing geopolitical risks and other factors, the Company added escalating tensions in the Middle East, supply chain disruptions and trade fragmentation as factors weighing on the global economy. - FY2026-H1WorsenedAnnual report
「During the interim accounting period, the global economy remained steady, albeit at a moderate pace, supported by increased investment in technology-related fields, including AI, and generally accommodative fiscal and monetary policies, despite concerns about an economic slowdown following changes in countries' trade policies.」
Notes concerns about an economic slowdown following changes in countries' trade policies, in addition to the previously cited geopolitical and tariff-policy risks. It also notes support from AI investment and fiscal and monetary policies. - FY2025WorsenedAnnual report
「Looking ahead, the global economy is expected to grow only moderately because of concerns about the impact of U.S. tariff policies and ongoing geopolitical risks.」
In addition to the existing geopolitical risks and other factors, the report identified the impact of U.S. tariff policies as a source of uncertainty for the global economy. - FY2025-H1WorsenedAnnual report
「During the interim accounting period, the global economy continued to grow moderately overall, but the outlook remained uncertain because of uncertainty surrounding policies under the new U.S. administration and rising geopolitical risks.」
In addition to the uncertainty arising from the international situation and other factors, the report described uncertainty surrounding policies under the new U.S. administration and rising geopolitical risks. - FY2024-Q3RestatedAnnual report
「During the cumulative third-quarter period, the global economy continued to grow moderately, but the outlook remained uncertain because of trends in policy rates in Europe and the United States, the economic slowdown associated with stagnation in China's real estate market, and developments in Ukraine and the Middle East.」
The report reiterated its view that, while the global economy continued to grow moderately, the outlook remained uncertain because of policy rates in Europe and the United States, China's real estate market, and developments in Ukraine and the Middle East. - FY2024-Q2RestatedAnnual report
「During the cumulative second-quarter period, the global economy continued to grow moderately, but the outlook remained uncertain because of elevated policy rates in Europe and the United States, the economic slowdown associated with stagnation in China's real estate market, and developments in Ukraine and the Middle East.」
The report reiterated its view that, while the global economy continued to grow moderately, the outlook remained uncertain because of policy rates in Europe and the United States, China's real estate market, and developments in Ukraine and the Middle East. - FY2024-Q1WorsenedAnnual report
「During the cumulative first-quarter period, the global economy continued to grow moderately, but the outlook remained uncertain because of global monetary tightening, sharp foreign-exchange fluctuations, the impact of stagnation in China's real estate market, and developments in Ukraine and the Middle East.」
In addition to the existing uncertainty factors, the report cited global monetary tightening, stagnation in China's real estate market, and developments in Ukraine and the Middle East. - FY2023-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the global economy continued to face an uncertain outlook because of surging resource and energy prices following developments in Ukraine, policy rate hikes in Europe and the United States in response to inflation risks, and the slowdown in China's economy.」
In addition to the existing factors of developments in Ukraine, surging resource and energy prices, and rate hikes in Europe and the United States, the report cited the slowdown in China's economy and stated that uncertainty surrounding the outlook for the global economy continued. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, the global economy continued to face an uncertain outlook because of surging resource and energy prices following developments in Ukraine, policy rate hikes in Europe and the United States in response to inflation risks, sharp foreign-exchange fluctuations, and the impact of COVID-19 on supply chains.」
The report continued to describe uncertainty in the global economy due to developments in Ukraine, surging resource and energy prices, policy rate hikes, foreign-exchange fluctuations, and the impact of the pandemic on supply chains. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period, the global economy continued to face an uncertain outlook because of surging resource and energy prices following developments in Ukraine, policy rate hikes in Europe and the United States in response to inflation risks, sharp foreign-exchange fluctuations, and the impact of COVID-19 on supply chains.」
The report stated that uncertainty continued because of developments in Ukraine, surging resource and energy prices, policy rate hikes, foreign-exchange fluctuations, and the impact of the pandemic on supply chains. - FY2022WorsenedAnnual report
「During the fiscal year, the global economy showed a strong recovery, supported by progress in COVID-19 vaccinations and proactive economic measures. However, supply failed to keep pace with the increase in rapidly recovering demand, and supply constraints including worldwide shortages of materials and logistics bottlenecks emerged, partly because of the impact of lockdowns in China caused by the spread of variants. In addition, the outlook remained uncertain because of surging resource and food prices following developments in Ukraine, policy rate hikes in Europe and the United States in response to inflation risks, and foreign-exchange fluctuations.」
In addition to supply constraints, China's lockdowns, developments in Ukraine, surging resource and food prices, rate hikes to address inflation, and foreign-exchange fluctuations were added as sources of uncertainty. - FY2022-Q3WorsenedAnnual report
「During the cumulative third-quarter period, the global economy showed a strong recovery, supported by progress in COVID-19 vaccinations, mainly in developed countries, and proactive economic measures. However, supply failed to keep pace with the increase in rapidly recovering demand, resulting in supply constraints including worldwide shortages of materials and logistics bottlenecks. In addition, the outlook remained uncertain because of surging resource prices following developments in Ukraine and other factors.」
While the global economy recovered, supply failed to keep pace with the surge in demand, resulting in material shortages and logistics bottlenecks. The surge in resource prices following developments in Ukraine was also added as a source of uncertainty. - FY2022-Q2WorsenedAnnual report
「During the cumulative second-quarter period, the global economy continued to recover solidly overall, supported by progress in COVID-19 vaccinations, mainly in developed countries, and proactive economic measures. However, supply failed to keep pace with the increase in rapidly recovering demand, resulting in supply constraints including worldwide shortages of materials and logistics bottlenecks. In Japan, infections also spread again with the emergence of variants, and the outlook remained uncertain.」
While the global economy recovered, supply failed to keep pace with the surge in demand, resulting in material shortages and logistics bottlenecks, while the report also noted the renewed spread of infections in Japan due to variants. - FY2022-Q1WorsenedAnnual report
「During the cumulative first-quarter period, the global economy continued to recover solidly overall, supported by progress in COVID-19 vaccinations, mainly in developed countries, and proactive economic measures. Meanwhile, the rapid spread of the Delta variant in Southeast Asia during the summer led to temporary factory closures and disruption to global supply chains, while supply constraints, including worldwide shortages of materials and logistics bottlenecks, including in Japan, continued to leave the outlook uncertain.」
While the recovery in developed countries continued, temporary factory closures caused by the Delta variant, disruption to supply chains, global material shortages, and logistics bottlenecks emerged, and uncertainty surrounding the outlook continued. - FY2021-Q3Recovery in China and the United States, and Uncertainty in JapanAnnual report
「China's economy, which was among the first to resume economic activity, continued to recover. The U.S. economy also showed a notable recovery as restrictions on economic activity were gradually lifted, supported by large-scale additional economic measures and an accelerating pace of vaccinations. Japan's economy has been recovering on a trend basis from its trough in April-May of Reiwa 2, when economic activity was broadly restricted, but the outlook remained uncertain as infections spread following the inflow of variants and some regions reinstated a state of emergency.」
The report described the regional situation in which recovery in China and the United States became more evident, while uncertainty remained in Japan because of variants and the state of emergency. - FY2021-Q2RestatedAnnual report
「During the cumulative second-quarter period, the global economy saw stalled economic activity gradually resume as restrictions to contain the spread of COVID-19 were eased, and recovered from the sharp downturn in the first half of Reiwa 2. Meanwhile, as the number of new infections rose again in countries and regions including the United States and Europe, downward pressure intensified, particularly on face-to-face service industries.」
The report described the gradual resumption and recovery of economic activity, while continuing to note downward pressure on the economy from the renewed increase in new infections. - FY2021-Q1Resumption of Economic Activity and Concerns over a Resurgence of InfectionsAnnual report
「The global economy saw stalled economic activity gradually resume as restrictions to contain the spread of COVID-19 were eased, but concerns over another economic downturn increased again against the backdrop of a resurgence of infections in Europe.」
While economic activity gradually resumed from the stagnation seen in the previous fiscal year, the report stated that concerns over another economic downturn increased because of the resurgence of infections in Europe. - FY2020WorsenedAnnual report
「The global economy also remained severely depressed as a result of the explosive spread of COVID-19, with no clear prospect for when the outbreak would end, and uncertainty surrounding the outlook continued to intensify.」
The explosive spread of COVID-19 caused the global economy to decline sharply, and the lack of visibility on when the outbreak would end heightened uncertainty. - FY2020-Q3WorsenedAnnual report
「The global economy also continued to face heightened uncertainty as the spread of COVID-19 stalled economic activity worldwide, with no clear prospect for when the outbreak would end.」
The spread of COVID-19 stalled economic activity worldwide, and the lack of visibility on when the outbreak would end heightened uncertainty surrounding the global economy. - FY2020-Q2WorsenedAnnual report
「Meanwhile, the global economy continued to face heightened uncertainty going forward due to the impact of U.S.-China trade friction, the spread of the novel coronavirus, and the UK's EU withdrawal issue.」
In addition to the existing risks from U.S.-China trade friction and the UK's EU withdrawal, the report added the spread of the novel coronavirus as a factor contributing to uncertainty surrounding the outlook for the global economy. - FY2020-Q1RestatedAnnual report
「Meanwhile, the global economy continued to show signs of a slowdown, mainly in China and Europe, partly because of heightened uncertainty surrounding economic policy, including U.S.-China trade friction and the UK's withdrawal from the EU, and the uncertain outlook for the global economy intensified.」
The report continued to describe U.S.-China trade friction, the UK's withdrawal from the EU, the slowdown mainly in China and Europe, and the uncertain outlook for the global economy. - FY2019WorsenedAnnual report
「The global economy continued to show signs of a slowdown, mainly in China and Europe, partly because of heightened uncertainty surrounding economic policy, including U.S.-China trade friction and the UK's withdrawal from the EU, and the uncertain outlook for the global economy intensified.」
The report described the slowdown in China and Europe, as well as heightened uncertainty stemming from U.S.-China trade friction and the UK's withdrawal from the EU. - FY2019-Q3RestatedAnnual report
「In the global economy, the United States and Europe continued to perform solidly, while China's economy showed signs of a slowdown against the backdrop of intensifying trade friction between the United States and China, and uncertainty surrounding the outlook for the global economy increased.」
The report continued to describe the solid performance of the United States and Europe, contrasting it with the slowdown in China's economy and heightened uncertainty surrounding the global economy due to U.S.-China trade friction. - FY2019-Q2WorsenedAnnual report
「In the global economy, the United States and Europe continued to perform solidly, but China's economy showed signs of a moderate slowdown. Concerns grew that an intensification of trade friction between the United States and China could cause a further deterioration in China's economy and lead to a slowdown in the global economy as a whole.」
In addition to the slowdown in China's economy, the report newly stated concerns that intensifying U.S.-China trade friction could cause a further deterioration in China's economy and a slowdown in the global economy. - FY2019-Q1RestatedAnnual report
「The global economy continued to improve steadily, supported by solid economic performance in the United States and Europe and the continued moderate recovery of emerging-market economies.」
The report continued to describe the solid performance of the United States and Europe, the recovery of emerging-market economies, and improvement in the global economy. - FY2018RestatedAnnual report
「The global economy continued to improve steadily, supported by solid economic performance in the United States and Europe and the continued moderate recovery of emerging-market economies.」
The report continued to describe the solid performance of the United States and Europe, the recovery of emerging-market economies, and improvement in the global economy. - FY2018-Q3RestatedAnnual report
「The global economy continued to improve steadily, supported by solid economic performance in the United States and Europe and the continued moderate recovery of emerging-market economies.」
The report continued to describe the solid performance of the United States and Europe, the recovery of emerging-market economies, and steady improvement in the global economy. - FY2018-Q2SoftenedAnnual report
「The global economy continued to improve steadily, supported by solid economic performance in the United States and Europe and the continued moderate recovery of emerging-market economies.」
Regarding the global economy, the report described recovery in the United States, Europe, and emerging markets and steady improvement, without citing the specific uncertainty factors mentioned previously. - FY2018-Q1Additional uncertainty factorsAnnual report
「The global economy continued to grow overall, supported by solid economic performance in the United States and Europe and the continued moderate recovery of emerging-market economies. Risks included rising tensions surrounding North Korea, the economic policies of the new U.S. administration and their impact on emerging-market economies, and developments in and the impact of negotiations over the UK's withdrawal from the European Union (EU).」
While noting continued growth in the global economy, the report identified rising tensions surrounding North Korea as an additional risk factor, alongside the existing risks related to U.S. policies and the UK's EU withdrawal. - FY2017RestatedAnnual report
「The global economy continued to grow moderately overall, but risks included the economic policies of the new U.S. administration and their impact on emerging-market economies, as well as developments in and the impact of negotiations over the UK's withdrawal from the European Union (EU).」
While stating that the global economy continued to grow moderately, the report continued to identify the policies of the new U.S. administration, their impact on emerging markets, and negotiations over the UK's EU withdrawal as sources of uncertainty. - FY2017-Q2Update to uncertainty factorsAnnual report
「The global economy shifted to a moderate recovery, but uncertainty surrounding the policies of the new U.S. administration, their impact on emerging-market economies, and national elections in European countries remained persistent, and the global economy as a whole continued to face an uncertain outlook.」
While stating that the global economy had shifted to a moderate recovery, the report newly identified the policies of the new U.S. administration, their impact on emerging-market economies, and national elections in European countries as sources of uncertainty. - FY2017-Q1RestatedAnnual report
「In the global economy, the U.S. economy continued to perform solidly in terms of employment conditions and consumer spending, while the European economy continued its moderate, domestic-demand-led recovery. However, the global economy as a whole remained uncertain going forward because of the UK's EU withdrawal issue and the slowdown in the Chinese and other emerging-market economies.」
The uncertain outlook for the global economy due to the UK's EU withdrawal issue and the slowdown in the Chinese and emerging-market economies was reiterated. - FY2016WorsenedAnnual report
「In the global economy, the U.S. economy remained supported by employment conditions and consumer spending, while the European economy continued its moderate, domestic-demand-led recovery. However, the global economy as a whole remained uncertain going forward because of the issue of the UK's withdrawal from the European Union (EU) and the slowdown in the Chinese and other emerging-market economies.」
In addition to the slowdown in China and emerging markets, the UK's EU withdrawal issue was identified as a source of uncertainty. - FY2016-Q3First statedAnnual report
「In the global economy, the United States and Europe continued to grow moderately on firm consumer spending, but the economic slowdown in China and emerging markets became increasingly pronounced, and the global economy as a whole remained uncertain going forward.」
The increasingly pronounced economic slowdown in China and emerging markets, as well as the uncertain outlook for the global economy, were identified as risks.