Japan government to offer bleakest economic assessment in nearly 7 years: Nikkei

In a photo from March 17, 2020, pedestrians walk past a quotation board displaying share price numbers of the Tokyo Stock Exchange in Tokyo.
In a photo from March 17, 2020, pedestrians walk past a quotation board displaying share price numbers of the Tokyo Stock Exchange in Tokyo.PHOTO: AFP

TOKYO (REUTERS) - Japan's government is expected to offer its bleakest economic assessment in nearly seven years in March as the coronavirus outbreak cools private consumption and business sentiment, the Nikkei newspaper reported on Tuesday (March 24).

In its monthly report for March, the government will drop language describing the economy as "recovering" for the first time in six years and nine months, the paper said, without citing sources.

Sources have told Reuters the government is expected to cut its assessment of the economy in March, though officials were divided on whether to remove the language "recovering" in the assessment.