The government on Tuesday downgraded its overall assessment of the economy for the first time in a year, acknowledging that the pace of improvement has slowed and downside risks have increased.
"Movements toward an incipient recovery continue to be seen in the economy, though the pace has become more gradual," the Cabinet Office said in its monthly report on the economy for November.
In the October report, the office maintained its overall assessment for the third straight month, saying, "Movements of a moderate incipient recovery continue to be observable in some areas of the economy, though the environment has become more severe."