Uncertainty looms ahead in 2020 according to the Cabinet Office data

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The Japanese Cabinet Office announced the assessment of coincident index on February 7, which showed business conditions were worsening for five consecutive months. 

 It is the first time since the Lehman Crisis that the judgment of deterioration has been so prolonged, indicating a likelihood of a recession. 

 Looking ahead, uncertainty may deepen further due to the spread of coronavirus cases. 
Uncertainty looms ahead in 2020 according to the Cabinet Office data

 The coincident index, which indicates the current state of the economy, was 94.7 in December 2019, same as previous month at the lowest level since February 2013. 

 The durable consumer goods index and retail sales were stagnant. Passenger car shipments and sales of home appliances, clothing were also sluggish. 

 In addition to the fading last minute demand after the consumption tax hike, sales of seasonal products were weak due to the warm winter. 

 It is feared that infections of the coronavirus originating Wuhan, China and now spreading in Japan will drag down retail, tourism, and lodging businesses further.

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