The Japanese government maintained its assessment of the state of the economy in its monthly economic report, but revised down its export forecast, citing the effects of slowing demand in China.
"Japan's economy is recovering moderately, although it recently appears to be pausing. Thus, our estimate has not changed compared to June. But exports are moving sideways (in June, it was reported that the export recovery had stalled). Pressure on exports is being exerted by signs of weakness in China's economy, which is suffering from a downturn in the real estate market and weak domestic demand," - the government said, adding that a pick-up in consumption was stalling (this estimate has not changed compared to June).