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Cabinet Office’s June Economic Report

June 18, 2007
By Ken Worsley


The Cabinet Office has released their monthly economic report for June. Last month, the Cabinet had wrapped up its worries in a downgrading of the US economy. This month, there is a return to the usual meandering vagueness. This post will reproduce the text of the report, and the next will actually break some of it apart…Here’s the report:

(Assessment of the current state of the Japanese economy)

The economy is recovering, despite weakness in industrial production in some sectors.

  • Corporate profits are improving and business investment is increasing.
  • The employment situation is improving on a broader basis, though some severe aspects remain.
  • Private consumption is picking up.
  • Exports and industrial production are flat.

As for short-term prospects, the economic recovery is expected to continue supported by the domestic private demand as high corporate profits feed into the household sector. On the other hand, attention should be given to an effect which developments of oil prices in particular have on both domestic and overseas economies.

(Policy stance)

To realize “a beautiful country”, the Government will put together the “Basic Policies 2007(provisional title)” which aims at an enhance of growth potential by promoting an open economy, a construction of a system of administration and finance in the 21st century and a realization of a sustainable and secure society which we can hand over to the next generation with confidence.
In order to secure the trend of price stability and ensure the sustainable economic growth led by private-sector under price stability, the Government and the Bank of Japan will make joint efforts, sharing their basic perspectives on macroeconomic management.

Yes, that’s the whole thing.

Filed Under Cabinet Office, Economic Reports 

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Comments

4 Responses to “Cabinet Office’s June Economic Report”

  1. Alex Forshaw on June 19th, 2007 12:22 am

    Even by American bureaucratese standards, that’s got to be the most mushy-mouthed “policy” I’ve ever seen.

    Why don’t the Japanese simultaneously start jacking up interest rates and lighting up the yen printing presses?

  2. Billy-Buck on June 20th, 2007 1:18 am

    Alex
    Because they need a artificial weak yen to suport the consept of
    “working poor in a beautiful country”.
    Happy production slaves working theyr skinny ases of
    - for the warlords in Tokyo.

  3. Ken Worsley on June 20th, 2007 1:36 am

    Billy-Buck - I’ll take that as a compliment?

    Warlord. I kind of like it.

  4. Billy-Buck on June 20th, 2007 8:26 pm

    “In order to secure the trend of price stability and ensure the sustainable economic growth led by private-sector under price stability, the Government and the Bank of Japan will make joint efforts, sharing their basic perspectives on macroeconomic management.

    Ken
    The only thing in the head of BoJ/Mof (one head) are zero inflation,
    zero interest rate, a zero worth yen.

    - Yes, that’s the whole thing.

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