Given these developments, I hold the view that, having emerged from the pause in the first half of fiscal 2014, the economy has started to show signs of returning to a moderate recovery path.
Although a limited number of economic indicators has been released with regard to developments since the beginning of 2015, real exports for January showed a clear pick-up of 5.0 percent from the previous month, mainly due to an increase in exports of automobiles to the United States.