Ministerial Council on the Monthly Economic Report and Other Relative Issues

On October 15, 2021, the Prime Minister attended a meeting of the Ministerial Council on the Monthly Economic Report and other relative issues at the Prime Minister’s Office.

Regarding the assessment of the current state of the Japanese economy, the October Monthly Economic Report states that the Japanese economy continues to show signs of picking up, “although the pace has weakened in a severe situation” due to the novel coronavirus disease (COVID-19). Furthermore, concerning short-term prospects, the Report states that “the economy is expected to show movements of picking up,” supported by policy effects and improvement in overseas economies while taking thorough measures to prevent the spread of infectious diseases and accelerating vaccinations. The Report further states, “However, full attention should be given to the further increase in downside risks due to negative effects through the supply chains. Also attention should be given to” the situation of domestic and overseas infections and “the effects of fluctuations in the financial and capital markets.”