Prime Minister Shinzo Abe attended a meeting of the Ministerial Council on Monthly Economic Report and Other Relative Issues, at the Prime Minister’s Office.
The Monthly Economic Report for July assesses the current state of the Japanese economy, stating that “The Japanese economy is on a moderate recovery trend and a reaction after a last-minute rise in demand before a consumption tax increase is easing. ”
On prospects for the economy, it states, “Concerning short-term prospects, although some weakness remains for the time being due to the reaction after a last-minute rise in demand before a consumption tax increase, the economy is expected to recover moderately as the effect gradually lessens, while the effects of the policies support. However, slowing down of overseas economies is still downside risk of the Japanese economy. ”