Overview of May 2019: Possibility of entering a recession phase
The economic diffusion index (DI) in May 2019 was 45.4, down 1.4 points from the previous month, and worsened for the sixth consecutive month. Intensified US-China trade conflict coincides with emerging negative effects associated with the long holidays, and domestic economy may have entered a recession phase.
Future outlook: Uncertainty has further intensified
Uncertainty about the future domestic economy has further intensified, such as how the US-China trade conflict will turn out, in addition to concerns about declining consumption due to the consumption tax hike.