Global Economic Uncertainty and Downside Risks to the Economy
First written in FY2017-Q1. 18 of 31 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2022: 129 of 170 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Meanwhile, uncertainty over the outlook for the global economy has increased further due to prolonged geopolitical risks, trade imbalances resulting from trade policy and the continued stagnation of the Chinese economy.」
In addition to the previous geopolitical risks and trade policy, trade imbalances and continued stagnation in the Chinese economy were identified, and the report states that uncertainty over the outlook for the global economy increased further. - FY2026-H1RestatedAnnual report
「Meanwhile, instability in energy and raw material markets continued against a backdrop of expectations that monetary tightening in the US would continue for an extended period and geopolitical tensions including the situations in Ukraine and the Middle East. As a result, component supply prices continued to rise, and conditions remained unstable in terms of costs.」
The report states that US monetary policy, the situations in Ukraine and the Middle East, instability in energy and raw material markets, and soaring component prices continued. - FY2025WorsenedAnnual report
「Meanwhile, the global economy became increasingly stagnant due to unstable economic conditions resulting from the risk of Trump tariffs, China's economic slowdown, monetary tightening in the US and Europe, soaring energy and raw material prices resulting from geopolitical risks including the situations in Ukraine and the Middle East, and sharp fluctuations in exchange rates and stock prices.」
The risk of Trump tariffs has been added to the previous factors contributing to stagnation in the global economy and identified as an additional source of instability, together with exchange-rate and stock-price fluctuations. - FY2025-H1WorsenedAnnual report
「Meanwhile, the global economy became increasingly stagnant and unstable due to deterioration in China's economy, monetary tightening in the US and Europe, soaring energy and raw material prices resulting from geopolitical risks including the situations in Ukraine and the Middle East, and sharp exchange-rate fluctuations.」
Deterioration in China's economy has been explicitly identified, and the report states that stagnation and instability in the global economy intensified alongside monetary tightening in the US and Europe, geopolitical risks, soaring energy and raw material prices, and exchange-rate fluctuations. - FY2024-Q3WorsenedAnnual report
「Meanwhile, the global economy became increasingly stagnant due to China's economic slowdown, monetary tightening in the US and Europe, soaring energy and raw material prices resulting from geopolitical risks including the situations in Ukraine and the Middle East, and sharp exchange-rate fluctuations.」
In addition to the previous conditions in China, the US and Europe and the situation in Ukraine, the situation in the Middle East has been identified as a geopolitical risk, expanding the factors contributing to stagnation in the global economy. - FY2024-Q2WorsenedAnnual report
「Meanwhile, the global economy became increasingly stagnant due to China's economic slowdown, monetary tightening in the US and Europe, soaring energy and raw material prices resulting from geopolitical risks including the situation in Ukraine, and sharp exchange-rate fluctuations.」
The report states that stagnation in the global economy intensified against a backdrop of China's economic slowdown, monetary tightening in the US and Europe, geopolitical risks, soaring energy and raw material prices, and exchange-rate fluctuations. - FY2023-Q3WorsenedAnnual report
「Meanwhile, the global economy became increasingly stagnant due to a downturn in China following the spread of infections after the easing of its zero-COVID policy, economic slowdowns in the US and Europe, soaring energy and raw material prices resulting from the prolonged situation in Ukraine and other factors, and sharp exchange-rate fluctuations.」
In addition to the previous uncertainty over the global economy, the spread of infections in China, economic slowdowns in the US and Europe, the prolonged situation in Ukraine, soaring energy and raw material prices and sharp exchange-rate fluctuations combined to intensify stagnation in the global economy. - FY2023-Q2WorsenedAnnual report
「Meanwhile, the global economy remained uncertain due to stagnating economic activity in China resulting from its zero-COVID policy, soaring energy and raw material prices resulting from the prolonged situation in Ukraine and other factors, and sharp exchange-rate fluctuations. In addition, tight supply and demand for components, including electronic and resin components, resulted in continuing instability in procurement and costs, with delays in component supplies and price increases seen in some areas.」
In addition to China's zero-COVID policy, the situation in Ukraine, energy and raw material prices and exchange-rate fluctuations, delays in component supplies and soaring prices have continued and taken concrete form as factors contributing to uncertainty in the global economy and procurement conditions. - FY2023-Q1WorsenedAnnual report
「Meanwhile, the outlook remained uncertain due to soaring energy and raw material prices resulting from the prolonged situation in Ukraine and other factors, as well as sharp exchange-rate fluctuations. In addition, tight supply and demand for components, including electronic and resin components, resulted in continuing instability in procurement and costs, with delays in component supplies and price increases seen in some areas.」
While easing restrictions on economic activity and moves toward normalization are being reported, uncertainty factors including the situation in Ukraine, energy and raw material prices, exchange-rate fluctuations and delays in component supplies have been added and taken concrete form. - FY2022-Q3WorsenedAnnual report
「During the third quarter of the consolidated cumulative period under review, improvement in the business conditions index for large enterprises in the manufacturing sector appeared to have paused. In addition to restrictions on economic activity resulting from the continuing spread of COVID-19, prolonged shortages of semiconductors and other components and soaring raw material prices have become burdens, and the outlook remains uncertain.」
The business conditions index changed from improving through the previous quarter to showing a pause in improvement, while prolonged shortages of semiconductors and other components and soaring raw material prices became additional burdens. - FY2022-Q2SoftenedAnnual report
「During the second quarter of the consolidated cumulative period under review, Japan's economy saw the business conditions index for large enterprises in the manufacturing sector improve for the fifth consecutive period, reaching its highest level since the December 2018 survey. However, economic activity remained restricted by the continuing spread of COVID-19, and the outlook remained uncertain.」
The business conditions index for large enterprises in the manufacturing sector progressed from improving for four consecutive periods through the previous quarter to improving for five consecutive periods, reaching its highest level since the December 2018 survey. Meanwhile, restrictions on economic activity due to COVID-19 and uncertainty over the outlook continued. - FY2022-Q1SoftenedAnnual report
「During the first quarter of the consolidated cumulative period under review, Japan's economy saw the business conditions index for large enterprises in the manufacturing sector improve for the fourth consecutive period, reaching its highest level since the December 2018 survey. However, economic activity remained restricted by the continuing spread of COVID-19, and the outlook remained uncertain.」
While the business conditions index for large enterprises in the manufacturing sector improved for the fourth consecutive period and reached a high level, restrictions on economic activity due to COVID-19 and uncertainty over the outlook continued. - FY2021-Q3WorsenedAnnual report
「While some regions showed signs of economic improvement, the global economy slowed sharply as the resurgence of infections caused personal consumption, capital investment and other areas to decline, and the outlook remained uncertain.」
The resurgence of COVID-19 infections caused personal consumption and capital investment to decline, while the sharp slowdown in the global economy and uncertainty over the outlook continued. - FY2021-Q2WorsenedAnnual report
「The global economy also slowed sharply as restrictions on economic activity to contain the spread of COVID-19 caused personal consumption, capital investment and other areas to decline, and the outlook remained uncertain.」
Restrictions on economic activity due to COVID-19 led to declines in personal consumption and capital investment and a sharp slowdown in the global economy, giving concrete form to concerns about downside risks. - FY2021-Q1WorsenedAnnual report
「During the first quarter of the consolidated cumulative period under review, Japan's economy deteriorated rapidly as the spread of COVID-19 restricted economic and social activity, causing personal consumption and exports to decline sharply. The business conditions index for large enterprises in the manufacturing sector declined for the sixth consecutive quarter, reaching its lowest level in 11 years, since June 2009 following the Lehman crisis. The outlook for the global economy also remained uncertain, as the spread of COVID-19 led countries to restrict economic activity.」
In addition to the previous uncertainty over the global economy, restrictions on economic and social activity due to COVID-19, six consecutive quarters of declines in the business conditions index for large enterprises in the manufacturing sector, and the lowest level in 11 years are reported, giving concrete form to the economic deterioration. - FY2020WorsenedAnnual report
「Since the beginning of this year, economic and social activity has stagnated due to the global spread of the novel coronavirus, leaving the outlook for the economy in Japan and overseas extremely uncertain.」
In addition to the previous concerns about an economic slowdown and uncertainty over the global economy, restrictions on economic and social activity resulting from the spread of the novel coronavirus have become an additional factor. - FY2020-Q3WorsenedAnnual report
「The business conditions index for large enterprises in the manufacturing sector declined for the fourth consecutive quarter, raising concerns about economic stagnation.」
In addition to the previous uncertainty over the global economy, the business conditions index for large enterprises in the manufacturing sector declined for the fourth consecutive quarter, giving concrete form to concerns about stagnation in the domestic economy. - FY2020-Q2RestatedAnnual report
「The global economic outlook remains uncertain due to concerns about a slowdown in the Chinese economy resulting from the prolonged US-China trade friction issue and uncertainty surrounding the UK's withdrawal from the EU.」
Uncertainty over the outlook for overseas economies continues due to prolonged US-China trade friction, concerns about a slowdown in the Chinese economy and uncertainty surrounding the UK's withdrawal from the EU. - FY2020-Q1RestatedAnnual report
「The outlook for overseas economies remains uncertain due to concerns about a slowdown in the Chinese economy resulting from the prolonged US-China trade friction issue and uncertainty surrounding the UK's withdrawal from the EU.」
Uncertainty over the outlook for overseas economies continues due to prolonged US-China trade friction, concerns about a slowdown in the Chinese economy and uncertainty surrounding the UK's withdrawal from the EU. - FY2019WorsenedAnnual report
「Overseas economies remained in an uncertain environment due to factors including intensifying trade friction, political divisions within the US and the breakdown of UK-EU withdrawal negotiations.」
In addition to the previous concerns about trade friction, intensifying trade friction, political divisions within the US and the breakdown of UK-EU withdrawal negotiations are identified as specific factors contributing to uncertainty. - FY2019-Q3WorsenedAnnual report
「Meanwhile, the outlook for the global economy remains uncertain due to the impact on the global economy of developments in trade issues, including intensifying US-China trade friction, uncertainty in overseas economies and volatility in financial and capital markets.」
The previous concern about trade friction has taken concrete form as intensifying US-China trade friction, with uncertainty in overseas economies and volatility in financial and capital markets also becoming factors. - FY2019-Q2RestatedAnnual report
「In Asia, particularly China, economic expansion continued, supported by growth in exports and other factors. However, the outlook remained uncertain, including concerns that US economic policy could develop into international trade friction.」
While economic expansion continues in Asia, particularly China, concerns that US economic policy could develop into international trade friction and uncertainty over the outlook remain. - FY2019-Q1WorsenedAnnual report
「In Asia, particularly China, economic expansion continued, supported by growth in exports and other factors. However, the outlook remained uncertain, including concerns that US economic policy could develop into international trade friction.」
Concerns that US economic policy could develop into international trade friction have taken concrete form, adding another factor indicating uncertainty over the outlook for the global economy. At the same time, economic expansion in each region is also being reported. - FY2018RestatedAnnual report
「During the consolidated fiscal year under review, the US economy continued to recover moderately, supported by improving employment conditions and expanding personal consumption. In Europe, the economy also continued to show signs of an overall recovery, driven by firm personal consumption. Emerging economies, particularly China, also showed signs of improvement as exports and personal consumption recovered. In Japan, although concerns remained about a downside to the economy due to uncertainty over the outlook for the global economy and other factors, the economy overall continued on a moderate recovery trend.」
While a recovery and improvement in the global economy are being reported, uncertainty over the global economy and concerns about downside risks remain. - FY2018-Q3SoftenedAnnual report
「In the United States, the economy continued to recover gradually as employment conditions improved and personal consumption expanded. In Europe, the overall economy also continued to recover, supported by solid personal consumption. Emerging markets, particularly China, also showed signs of recovery as exports and personal consumption improved. Although there were concerns about downside risks to Japan’s economy resulting from uncertainty over the outlook for the global economy and other factors, the economy overall continued to recover gradually.」
While uncertainty over the outlook for the global economy and concerns about downside risks remain, signs of recovery and improvement are also being reported, particularly in the US, Europe and China, with positive developments receiving more emphasis than in previous quarters. - FY2018-Q2RestatedAnnual report
「Although there were concerns about downside risks to Japan’s economy resulting from uncertainty over the outlook for the global economy, exchange-rate movements and other factors, the economy overall continued to recover gradually.」
Concerns about downside risks to the economy resulting from uncertainty over the global economy and exchange-rate movements remain in place. - FY2018-Q1RestatedAnnual report
「Although there were concerns about downside risks to Japan’s economy resulting from uncertainty over the outlook for the global economy, exchange-rate movements and other factors, the economy overall continued to recover gradually.」
Concerns about downside risks to the economy resulting from uncertainty over the global economy and exchange-rate movements continued to be described in the current quarter. - FY2017RestatedAnnual report
「During the current consolidated fiscal year, the global economy showed a continued gradual recovery in the United States, but the outlook became increasingly uncertain due to instability in foreign exchange and stock markets following the presidential election and issues including the United Kingdom’s withdrawal from the EU in Europe.」
The uncertainty in the global economy identified in the previous quarter continued as the assessment of the business environment for the full fiscal year. - FY2017-Q3WorsenedAnnual report
「During the nine-month cumulative period of the current third quarter, the global economy showed a continued gradual recovery in the United States, but the outlook became increasingly uncertain due to instability in foreign exchange and stock markets following the presidential election, while in Europe uncertainty was heightened by issues including the United Kingdom’s withdrawal from the EU. In emerging markets, particularly China, growth slowed due to declining exports and sluggish personal consumption, and difficult conditions continued.」
In addition to the previously identified uncertainty over the global economy and concerns about yen appreciation, the disclosure specifies instability in the US foreign exchange and stock markets, the United Kingdom’s EU withdrawal issue, and slowing growth in emerging markets centered on China, noting that uncertainty over the outlook increased. - FY2017-Q2RestatedAnnual report
「Although Japan’s economy has continued to recover gradually against a backdrop of government-led economic policies, there are concerns about downside risks to the economy resulting from uncertainty over the outlook for the global economy, yen appreciation and other factors.」
Concerns about downside risks to the economy resulting from uncertainty over the global economy and yen appreciation are described, as in the previous quarter. - FY2017-Q1First statedAnnual report
「Although Japan’s economy has continued to recover gradually against a backdrop of government-led economic policies, there are concerns about downside risks to the economy resulting from uncertainty over the outlook for the global economy, yen appreciation and other factors.」
Downside risks to the economy resulting from uncertainty over the global economy and yen appreciation are described as risks in the external environment.