However, clear signs of a self-sustained recovery in private demand have not been observed yet. With regard to final demand, housing investment and public investment are decreasing moderately. Recovery in private consumption continues to be weak through lack of notable improvements in employment and income conditions. Meanwhile, business fixed investment, which had been on a downward trend, seems to have almost leveled off.
Net exports (real exports minus real imports) continue to follow an upward trend due to an upturn in overseas economies. Reflecting such developments in final demand, industrial production continues to rise, and an increase in corporate profits is becoming distinct. In this situation, corporate sentiment continues to improve. Regarding the employment condition, the decrease in the number of employees is slowing.