TOKYO, Nov. 6 (Xinhua) -- Japan's Finance Ministry has maintained its overall assessment of the national economy, saying that while some areas show signs of weakness, the economy is recovering moderately.
In its quarterly report, the ministry said personal consumption continues to recover gradually despite the impact of rising prices.
Interviews with businesses revealed that even amid ongoing frugality among consumers, sales of higher-priced items increased during events in midsummer holidays.
The report also noted that hotels in Kansai region saw significant increases in room occupancy and rates thanks to the Osaka Expo.
Meanwhile, industrial production has been improving at a slower pace. Some transportation equipment manufacturers in Tokai region reported little change in factory operations despite U.S. tariff measures, while certain chemical companies noted a decline in production due to weakening demand for electric vehicles, according to the report.
Although Japan and the United States have reached an agreement on tariffs, global economic uncertainty remains, the ministry noted, emphasizing that sustained high prices pose a downside risk to the economy. ■