The Japanese economy deteriorates for four consecutive months, the Cabinet Office indexes show

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According to the Indexes of Business Conditions released by the Cabinet Office on January 10, the coincident index, which indicates the current state of the economy, was 95.1 for November 2019, down 0.2 points from previous month.

 After the consumption tax hike in the last October, the index fell for two consecutive months, falling to the lowest level since February 2013. 

 Stagnating corporate production caused the index to decline being consistent with the current state of the economy. 

 The assessment of coincident index was “the economy was worsening" for four consecutive months in a row, indicating a high possibility of a recession. 

 It is pointed out as the backdrop that the production and shipment of machinery such as shovel cars have been sluggish due to a delay in the procurement of parts after having been hit by the large typhoon last fall. 

 Regarding the employment, the effective job offer rate has recently leveled off. Until now, the Japanese government has maintained the assessment that the economy has been recovering moderately since January 2018, but those results and indexes have begun to deviate from such government judgment.

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