In what follows, I would like to talk about the current situation of Japan's economic activity and its outlook in more detail. Let me first touch on overseas economies affecting Japan's economy.
In the first half of 2016, pessimistic views about the global economy prevailed; concerns heightened regarding the slowdown in emerging economies including China, and the global financial markets became volatile, triggered by the so-called Brexit. However, the global economy hit bottom in the first half of last year, and its growth momentum seems to have strengthened thereafter, with various economic indicators improving markedly.