However, house rent and imputed rent, which have a large weight in service prices, are strongly correlated with wages, and given the results of the labor-management wage negotiations this spring, it may be difficult to expect much of a rise in rents.
The recession will be prolonged into the fourth quarter due to the ongoing slackness of private consumption and investment demand, and the substantial slowing of export growth. Although the current account is likely to continue to run a surplus during the fourth quarter, its scale will be somewhat reduced.