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 August assesses the current state of the Japanese economy, stating that “The Japanese economy is on a moderate recovery trend and the reaction after the last-minute rise in demand before the consumption tax increase is now 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 the last-minute rise in demand before the consumption tax increase, the economy is expected to recover moderately as the effect gradually lessens, while the effects of the policies support. However, it is important to be aware of the downside risks of the Japanese economy such as a prolonged reaction after the last-minute rise in demand, as well as the slowing down of overseas economies.”