Japan cuts ‘economic view’ to flag higher slump risk

Bloomberg

The Japanese government cut its formula-based assessment of the economy to indicate that economic conditions were worsening in August, an outcome signaling a higher risk that Japan could be entering a recession.
The coincident economic index fell 0.4 point to 99.3 in August, the Cabinet Office reported on Monday, compared with an economists’ estimate of 99.4.
The leading economic index dropped 2 points to 91.7 in August, its lowest level in nearly 10 years, compared with 91.8 estimated by economists.