With regard to final demand, while the decline in business fixed investment has become moderate, private consumption remains weak. Moreover, housing investment remains sluggish and public investment is declining. Meanwhile, net exports (real exports minus real imports) continue to increase due to the recovery in overseas economies.
Industrial production remains on an upward trend in response to the rise in exports and adequate reduction of excess inventory stocks. Against this background, corporate profits have started to recover. In addition, the rebound in production has been effecting labor markets, albeit marginally, with an increase in overtime hours worked and in new job offers mainly for part-time workers.