The Japanese government on Friday lowered its economic assessment for a second straight month and said the recovery is "pausing" due to slowdown in global economic activity.
"The economic recovery appears to be pausing due to deceleration of the world economy," the Cabinet Office said in its monthly report.
The report noted that both industrial production and exports are in a weak tone. Private consumption is almost flat with some weak movements seen of late.
Corporate profits are showing signs of leveling off, while business investment is exhibiting some weak movements amid slow growth.
The Cabinet Office said that the government will deploy a broad range of policy measures intensively by fiscal 2013 "to mobilize goods, people, and money."
by RTT Staff Writer
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