Based on the developments in leading indicators and judged from the successive downward revisions of firms’ investment plans in the information and communications sector, business fixed investment is also expected to follow a downward trend. Private consumption is likely to become weak gradually while employment and income conditions continue to deteriorate.
In addition to such developments in final demand, inventory adjustments in goods such as electronic parts and materials will continue for the time being. Industrial production is, therefore, expected to follow a declining trend.