Japanese Govt maintains 'moderate' economic view in September
|The latest monthly economic report released by the Japanese Cabinet Office on Thursday showed that Japan's government maintained its view that the economy is recovering at a moderate pace in September.
Key Highlights:
The government left its assessment of most of the individual components of economic growth unchanged, offering a generally positive view of domestic demand ahead of a sales tax hike scheduled for October.
The government retained its view that corporate profits held at a high level, as long-term strength in services-sector firms offset less rosy performance in the manufacturing sector.
It also kept its assessment that capital expenditure was expanding at a moderate pace despite some weak spots in spending by manufacturers.
USD/JPY keeps its recent range around 108.00, as the bulls lack follow-through amid negative S&P futures and BOJ’s status-quo.
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