On the other hand, in the current phase, although crude oil prices and financial markets at home and abroad temporarily became unstable from last autumn through the year-end and the start of this year, they both subsequently have regained stability. We are at least not in a situation where developments in financial markets worsen firms' and households' sentiment and thereby push down economic activity.
Third, as I mentioned earlier, domestic demand and business sentiment of the nonmanufacturing sector have been firm in the current phase on the back of favorable corporate profits and improvement in the employment and income situation.