Economic Slowdowns in Emerging and Resource-Rich Countries and Sharp Foreign-Exchange Movements

「The renewed tensions in the Middle East have made it impossible to foresee when elevated raw-material prices will ease. In addition, the yen’s depreciation has accelerated in the foreign-exchange market, with the yen significantly weaker than the mid-¥140 range in the same period of the previous year, further increasing uncertainty about the outlook.」

「However, the outlook remains uncertain due to the impact of U.S. tariffs under the Trump administration on business sentiment, a sharp rise in energy prices resulting from instability in the Middle East, inflation, and volatile foreign exchange trends.」

「The outlook remains uncertain, due to downward pressure on economic sentiment from U.S. tariffs imposed under President Trump, a sharp rise in energy prices resulting from instability in the Middle East, rising prices and volatile exchange rates.」

「However, risks that could weigh on the economy, including weaker consumer sentiment due to prolonged inflation, higher domestic manufacturing costs, and the impact of tariff policies under the Trump administration in the United States, remain a concern, and the outlook remains uncertain.」

「Meanwhile, the outlook remained uncertain due to persistently high energy prices, prolonged yen depreciation, higher costs resulting from rising labor costs, and the impact of U.S. tariff measures.」

「Meanwhile, the outlook for the economy remains uncertain due to the prolonged depreciation of the yen, soaring raw material prices, and trends in the financial markets.」

「Meanwhile, the outlook remained uncertain due to the impact on the yen of monetary tightening policies in Europe and the United States, and rising raw material and energy prices associated with the prolonged geopolitical risks in Ukraine, the Middle East and elsewhere.」

「During the six-month consolidated period under review, Japan's economy was on a recovery trend as economic activity normalized following the COVID-19 pandemic. Exports also showed signs of recovery, mainly reflecting the continued recovery in automobile production as component supply constraints eased and inbound demand. Meanwhile, the outlook remained uncertain due to the emergence of geopolitical risks from the prolonged situation in Ukraine, the impact of global inflation and the resulting monetary tightening policies adopted by countries, persistently high energy prices, and soaring raw material prices.」

「During the three-month consolidated period under review, Japan's economy continued to face an uncertain outlook, despite progress toward the normalization of economic and social activity following the reclassification of COVID-19 to Category V, due to concerns over a global recession arising from the prolonged situation in Ukraine, the entrenched depreciation of the yen, rising prices caused by higher raw material costs, and the impact of monetary policy in Europe and the United States.」

「During the nine-month consolidated period under review, Japan's economy showed signs of a gradual recovery as economic activity returned to normal following the lifting of restrictions on movement, despite the continued spread of COVID-19. Meanwhile, raw material prices and energy costs continued to rise due to the prolonged situation in Ukraine, and the outlook remained uncertain amid the impact of a downturn in overseas economies against a backdrop of global monetary tightening.」

「The prolonged situation in Ukraine, fluctuations in foreign exchange rates due to the rapid depreciation of the yen, and rising raw material prices resulting from higher resource prices affected by restrictions on economic activity in China have continued, and the outlook for the economy remains uncertain.」

「Meanwhile, the outlook for the economy remains uncertain due to the prolonged situation in Ukraine, fluctuations in foreign exchange rates amid the sharp depreciation of the yen, and rising raw material prices resulting from higher resource prices affected by restrictions on economic activity in China.」

「During the cumulative third quarter of the current consolidated fiscal year, Japan's economy remained affected by the spread of COVID-19. Although economic and social activity gradually eased with the promotion of COVID-19 vaccinations and the lifting of states of emergency, and a recovery was expected, the situation remains unpredictable, with new variants recently identified. At the same time, concerns remain about increasing downside risks to corporate performance from global semiconductor supply shortages and surging raw-material prices, and the outlook remains uncertain.」

「Amid continued difficult conditions, including renewed declarations of a state of emergency following the resurgence of COVID-19 and restrictions on economic and social activity, a recovery in economic activity is expected from the effects of various economic measures and progress in vaccination. However, concerns remain about the impact of automakers' production cuts caused by parts shortages accompanying the global semiconductor shortage and the renewed spread of COVID-19 in Southeast Asia, as well as the increasing downside risk to corporate performance from surging raw-material prices. The outlook therefore remains uncertain.」

「The automotive floor-mat and industrial materials businesses remained solid amid the economic recovery. However, concerns remain, including higher raw-material prices due to surging crude oil prices and the trend toward yen depreciation against the backdrop of expectations for a global economic recovery, higher logistics costs due to container shortages, and production adjustments that have forced automakers to reduce vehicle production because of semiconductor shortages.」

「Risks related to the spread of COVID-19 remain highly uncertain due to the progress of vaccination programs in Japan and overseas and concerns about the spread of variants. If the situation becomes prolonged, it could affect the financial position, operating results and cash flows for the following consolidated fiscal year, including through a decline in revenue accompanying a slowdown in global economic activity.」

「As the timing of the containment of COVID-19 remains unclear, social and economic activity while implementing measures to prevent the spread of infection is expected to remain difficult.」

「Overseas economies remain uncertain amid concerns about the prolonged US-China trade friction and uncertainty surrounding overseas economies resulting from the course of the UK's withdrawal from the EU. In addition, toward the end of the fiscal year, the global spread of COVID-19 was expected to have a serious impact on the economy.」

「Overseas economies remain uncertain amid concerns about the prolonged US-China trade friction and uncertainty surrounding overseas economies resulting from the course of the UK's withdrawal from the EU.」

「Overseas economies remain uncertain due to the prolonged US-China trade friction, the slowdown in the Chinese economy and uncertain political conditions.」

「Overseas economies remain uncertain due to the prolonged US-China trade friction, the slowdown in the Chinese economy and uncertain political conditions.」

「The outlook for the global economy remains uncertain, amid concerns about the impact on the domestic economy of the US administration's shift toward protectionism, prolonged US-China trade friction and a slowdown in the Chinese economy.」

「The outlook for the global economy remains uncertain, amid concerns about the impact on the domestic economy of the US administration's shift toward protectionism, prolonged US-China trade friction and a slowdown in the Chinese economy.」

「The outlook for the global economy remains uncertain, amid concerns about the impact on the domestic economy of the US administration's shift toward protectionism and intensifying trade friction originating in the United States.」

「The outlook for the global economy remains uncertain, amid concerns about the impact on the domestic economy of the US administration's shift toward protectionism and intensifying trade friction originating in the United States.」

「Uncertainty in the global economy due to the rise of protectionist US trade policies and heightened geopolitical risks in the Middle East and Asia」

「The outlook remains uncertain due to concerns about an economic slowdown in China resulting from fiscal and monetary tightening, uncertainty in the global economy stemming from the policies of the US administration, and instability in overseas political conditions.」

「The outlook remains uncertain due to concerns about an economic slowdown in China resulting from fiscal and monetary tightening, uncertainty in the global economy stemming from the policies of the US administration, and instability in overseas political conditions.」

「The outlook remains uncertain due to concerns about slower economic growth in emerging countries including China, uncertainty in the global economy resulting from the policies of the US administration, and rising geopolitical risks overseas.」

「Risks weighing on economic activity remain, including the impact of the UK's withdrawal from the EU on the global economy, the slowdown in overseas economies including China and other emerging and resource-rich countries, and growing concerns about policy uncertainty under the new US administration and geopolitical risks. The outlook therefore remains uncertain.」

「Risks weighing on economic activity remain, including the impact of the UK's withdrawal from the EU on the global economy, the slowdown in overseas economies including China and other emerging and resource-rich countries, and policy uncertainty under the new US administration. The outlook therefore remains uncertain.」

「Risks weighing on economic activity remain, including the impact of the UK's withdrawal from the EU on the global economy and increasing uncertainty surrounding overseas economies in China and other emerging and resource-rich countries. The outlook therefore remains uncertain.」

「Risks weighing on economic activity remain, including the impact of the UK's decision to leave the EU on the global economy and concerns about a slowdown in overseas economies, including China and other emerging and resource-rich countries. The outlook therefore remains uncertain.」

「The outlook remains uncertain, owing to concerns about an economic slowdown overseas, including in China and other emerging and resource-rich countries, as well as the effects of sharp foreign-exchange movements from the second half of the fiscal year.」