The government on Wednesday downgraded its basic assessment of the national economy, citing weakening consumer and corporate sentiment due to turbulence in global financial markets and a slowdown in emerging economies.
The world's third-largest economy is "on a moderate recovery, while weakness can be seen recently," the Cabinet Office said in its monthly report, a downward revision from last month when it said weakness was seen only "in some areas."
That is the first downward revision since October last year.