Reuters reports that Japan cut its view on economic conditions for the first time in more than two years after the coincident indicator index extended its decline in September, falling to the lowest in a year.
The index showing current economic conditions, slipped a preliminary 3.8 points from the previous month to 87.5, marking the third consecutive month of decline. The fall was the biggest since May 2020.
The government lowered its assessment of the index to "weakening" from "improving" in its first downgrade since August 2019.
Stagnant shipments of cars and its components as well as slowing exports and factory output - dragged down by the auto industry - contributed to the index's fall.