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Economic Trends Research, September 2019

Construction demand boosted the economy, with rush demand in some businesses
— Marginal improvement in the domestic economy for the second consecutive month owing to continued deterioration in the manufacturing industry —

Overview of September 2019: Possibility of entering a recession phase

The economic diffusion index (DI) in September 2019 was 45.0, up 0.3 points from the previous month, and improved for the second consecutive month. While the possibility of entering a recession phase has increased in the domestic economy due to worsening business conditions in the manufacturing industry, strong construction demand contributed to boost the economy, and rush demand was also seen in some businesses.

Future outlook: Uncertainty has further intensified, with many downside factors

With many causes of concern, such as the slowdown in exports and wary stance on capital investment in addition to the decrease in consumption, uncertainty about the domestic economy has further intensified.

Primary points of survey results(summary)

  1. 1 By industry : Rush demand occurred in some industries, mainly in the retail industry. The business climate in the manufacturing industry deteriorated for the fifth consecutive month.
  2. 2 By size : All sizes improved for the first time in one year and two months, with rush demand in some businesses.
  3. 3 By region : While eight of the ten regions improved, some regions were affected by Typhoon No. 15.
Economic Trends Research,September2019
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