This document compiles materials prepared for discussion of the Monthly Economic Report at the Ministerial Meeting held on July 29, 2025.
The materials present the basic assessment of Japan's economic situation as "[Expression Changed] The economy is recovering at a moderate pace, although some impacts from U.S. trade policies are observed." This represents a change from the previous month's assessment of "The economy is recovering at a moderate pace, but uncertainty from U.S. trade policies is observed," positioning the impacts of U.S. policies more specifically.
The meeting materials consist of 38 pages and contain detailed analytical data covering various sectors of Japan's economy. Current situation analysis and future outlook are organized for major economic indicators including personal consumption, capital investment, imports and exports, employment conditions, and price trends, based on the latest data.
Particularly noteworthy is the change in expression regarding the impact of U.S. trade policies, from the previous month's "uncertainty" to the more specific "impacts observed in some areas." This is considered the result of more accurate assessment of the degree of U.S. policy impact based on actual economic data.
The materials include numerous graphs and tables of various statistical data, functioning as basic materials for ministers to conduct thorough examination of the Monthly Economic Report content. Policy responses going forward are also suggested, emphasizing the importance of continuous monitoring of economic trends and appropriate policy management.
The article demonstrates that as important government materials for accurately understanding Japan's current economic situation and making appropriate policy judgments, these materials play a role in supporting information sharing and opinion coordination among ministers in the Monthly Economic Report formulation process.