Economic Trends Research, November 2019
Manufacturing industry continues to deteriorate, driving down the domestic economy
— Consumer spending trends will be the key —
Overview of November 2019: Possibility of entering a recession phase: Possibility of entering a recession phase
The economic diffusion index (DI) in November 2019 was 43.6, down 0.3 points from the previous month, and worsened for the second consecutive month. While the deteriorating manufacturing industry affects the related industries, the consumption tax rate increase also continues to impact the domestic economy, which may have entered a recession phase.
Future outlook: Uncertainty has further intensified,with many downside factors
With many causes of concern, such as consumer spending trends and the global economic slowdown, uncertainty about the domestic economy has further intensified.
Primary points of survey results(summary)
- 1 By industry : The manufacturing industry worsened for the seventh consecutive month. The economic DI entered the 30s for the first time in six years and seven months.
- 2 By size : All sizes worsened for the second consecutive month. The slowdown in small-sized manufacturers was prominent.
- 3 By region : Overseas economic stagnation and a decline in appetite for capital investment put downward pressure on the local economy.
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