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The Japanese government again worsened the assessment of the state of the country's economy - Wall Street Journal
As noted in the October government report, the recovery of the Japanese economy is proceeding at a moderate pace, although "its weakness has been observed recently." The September report indicated only "some weakness." The deterioration occurs for the second consecutive month, for the first time since 2012.
The reason for the deterioration of the assessment was the slowdown in industrial production in the country in October, due to a reduction in demand after the increase in sales tax in April from 5 to 8%. In October next year, the tax rate may be increased to 10%, depending on economic circumstances.
Recently, many politicians and consultants advise Prime Minister of Japan Shinzo Abe to postpone this step. The Prime Minister himself stated that he will carefully analyze the macroeconomic indicators for the third quarter before making a final decision on this issue before the end of this year.
In the 2 quarter of 2014, Japan's GDP fell by 7,1% in annual terms, but 3 quarter is expected to grow slightly in quarterly terms.