英語 での The pace of improvement の使用例とその 日本語 への翻訳
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The pace of improvement in employment and income conditions was also slowing.
There are likely to be two main factors behind the fact that the pace of improvement in prices has remained moderate.
The pace of improvement in employment and income conditions has also been slowing.
In any event, I would like to closely monitor the pace of improvement in exports and production while paying attention to underlying downside risks.
The pace of improvement in the output gap and price developments was generally moderate Chart 19.
The pace of improvement in business sentiment in the past six months had been comparable to that in previous recovery phases.
As a result, the pace of improvement in employment and income conditions continued to slow, and the positive growth cycle of production, income, and expenditures stalled.
As for business sentiment, manufacturers have become cautious mainly in the sectors thatare closely linked to emerging economies, and the pace of improvement in corporate profits of manufacturers seems to have decelerated.
The pace of improvement in small firms' profits is slower than that of large firms, and it has been somewhat sluggish recently due mainly to effects from the rise in materials costs.
However, the supply-demand balance has been deteriorating greatly, reflecting the sharp deterioration ineconomic conditions from the autumn of last year, and the pace of improvement in the supply-demand balance is expected to be slow, reflecting the aforementioned economic outlook.
These members added that the pace of improvement in production, employment, and income was slowing, and a recovery in final demand including business fixed investment had not been observed yet.
The pace of improvement in corporate profits seems to be slowing significantly as exports and production are recently declining, and business sentiment of firms are worsening particularly in the manufacturing industries.
Economic activity in the first half of fiscal 2007 seems to have been generally in line with the projection in the April 2007 Outlook for Economic Activity andPrices(hereafter the Outlook Report). The pace of improvement in the household sector, however, has remained slow relative to the strength in the corporate sector.
These developments will further increase the pace of improvement in the output gap, and thus enhance the dynamism of the rise in the inflation rate through the first and second transmission channels that I explained earlier.
Japan-China relations have gradually improved since the Japan-China Summit Meeting last April. However, as there are still some flash points such as the South China Sea territorial dispute and the increase in the frequency of Chinese government vesselsentering the sea surrounding the Senkaku Islands, the pace of improvement is slow, and uncertainty over the future of Japan-China relations has not been dispelled.
Some members noted that dueattention needed to be paid to the fact that the pace of improvement in business sentiment had been slowing, as seen in the Global Purchasing Managers' Index(PMI) for manufacturing having been on a declining trend, although it remained at a level above 50 points.
Looking at firms' perception of resource utilization, an indicator for supply and demand conditions, the weighted average of the diffusion indices of production capacity and employment conditions in the Tankan(Short-Term Economic Survey of Enterprises in Japan)suggests that the pace of improvement in resource utilization in consumption-related industries, such as retailing and services, is slower than the average for all industries.
On this basis,despite a continuing trend of improvement in labor market conditions, the pace of improvement in real income will likely remain moderate and private consumption will probably continue to increase at a moderate pace that is consistent with the pace of increase in real income.
The pace of improvement in corporate profits is expected to temporarily slow down, especially in the manufacturing sector, mainly because of the slowdown in overseas economies. However, corporate profits are projected to follow an improving trend, given that the past decline in crude oil prices will continue to have positive effects and the rise in demand at home and abroad is expected to raise sales volume growth.
These differences appear to reflect differing views between the Bank and economists,with respect to(1) the pace of improvement in the employment and income situation in Japan,(2)the pace of the rise in long-term inflation expectations, and(3) the ability of firms to raise their sales prices owing to the healthier prospects for profitability.
As for domestic private demand, the pace of improvement in the household sector has remained slow relative to the strength in the corporate sector. Overall developments in the economy, however, seem to have been generally in line with the Bank's projection for economic activity and prices.
However, given that the drop in demand after the financial crisis was considerable andthe pace of economic recovery has been moderate, the pace of improvement in the supply and demand balance is likely to remain moderate, and the timing of the year-on-year rate of change in the CPI entering the positive territory is likely to be sometime in fiscal 2011.
As for the outlook, the Bank projects that the pace of improvement of the economy is likely to be moderate for the time being, and it judges that the risk of the economy deteriorating substantially again, the risk of the so-called"double dip," about which market participants had expressed concern, has diminished considerably.