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Monday, the Japanese government downgraded its economic assessment for the third consecutive month. The Cabinet Office said in its Monthly Economic Report that the Japanese economy is worsening. Last month, the Cabinet Office assessed that the economy has weakened further as global economic slowdown added downward pressure on the Japanese economy.
According to the Cabinet Office, exports and business investment are decreasing. At the same time, industrial production and corporate profits are falling substantially. Further, the government noticed that employment situation is getting worse rapidly.
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