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Japan's economy improves moderately in Q3 with some weakness: research

Xinhua, November 1, 2016 Adjust font size:

The national economic situation in Japan is improving moderately with some weakness in the third quarter of this year, according to results of regional economic and industrial research released Tuesday.

The assessment of national economic situation remains the same in the quarter of July-September as that in the previous quarter, and it is "improving moderately although some businesses show weakness," said the results issued by the Ministry of Economy, Trade and Industry.

Production in the automobile-related industries shows an increase due to the recovery from the influence of the earthquakes in southwestern Kumamoto prefecture and other elements, while private consumption grows at a sluggish pace due to weak trends in clothing and shifting of overseas tourist consumption from luxury goods to general consumables, the research showed.

The regional bureaus of economy, trade and industry surveyed over 700 enterprises on a quarterly basis for the purpose of identifying economic trends, such as those related to business conditions, production, and investment in facilities, and they collect and analyze the survey results.

Compared to the previous quarter, the assessment of regional economic conditions in the third quarter has been revised upward in the Hokkaido, Chugoku and Kyushu regions, and has remained the same in the Tohoku, Kanto, Tokai, Hokuriku, Kinki, Shikoku and Okinawa regions, according to the results.

Economic condition in eastern Japan's Kanto region, which includes the greater Tokyo area, is "improving moderately with some weakness" in the third quarter, showed the results.

"Demand for smartphones and automobiles remain brisk, whereas in terms of private consumption, some businesses show stagnation in sales due to the impact of unstable weather," said the results. Endit