英語 での In inventory adjustment の使用例とその 日本語 への翻訳
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Specifically, the members focused on the issue of how to evaluate the contribution of the high growth in money stock compared to that in nominal GDP, in other words, the rise in the Marshallian k(money stock divided by nominal GDP) among other contributing factors--the progress in inventory adjustment and the rise in crude oil prices.
As for the outlook, with the progress in inventory adjustment gradually paving the way for a recovery in production, the government's economic measures and the monetary easing by the Bank will continue to underpin the economy. Improvements in the financial environment, such as the alleviation of concern about Japan's financial system, are also expected to exert positive effects on the economy gradually.
By region, exports to East Asia accelerated, reflecting high growth in China and the recovery in global IT-related demand. Exports to the United States had been somewhat weak until August, but they had recently started to show a clear increase due to the progress in inventory adjustment in automobiles.
Domestic commodity prices had generally been on an upward trend since 2002, reflecting firm demand in Asian economies and progress in inventory adjustments.
With regard to the corporate sector, production has been picking up on the back of a pick-up in exports and the progress in inventory adjustments.
Regarding adjustments in the corporate sector, many members noted the delay in inventory adjustments and the decline in business fixed investment.
Subsequently, the economy started to recover moderately as overseas economies picked up due in part to progress in inventory adjustments and the effects of large-scale economic stimulus measures implemented around the world.
However, consumer and business confidence is on a recovery trend due to the effects of the economic policy measures taken by governments and progress in inventory adjustments.
Exports, however, are highly likely to continue recovering, 10 mainly due to progress in inventory adjustments both at home and abroad, and public investment is also likely to continue increasing.
Since the latter half of 2016, trade has been recovering globally, due partly to a rise in IT-related demand for smartphones and data centers as well as progress in inventory adjustments in emerging economies.
The real GDP growth rate for the July-September quarter was slightly negative for a second consecutive quarter, but this is mainly due to the progress in inventory adjustments, and final demand as a whole has been increasing.
Exports are picking up, led mainly by mobile phone parts and other IT-related goods as well as automobile-related goods including parts, while production is also improving in line with the progress in inventory adjustments.
Most members commented on the U.S. economy that the recovery was becoming clear mainly due to the progress in inventory adjustments in IT-related goods and the firmness in household spending, but the sustainability of the recovery remained highly uncertain.
Recently, however, there were signs that the pace of production cuts was moderating, as the Purchasing Managers' Index(PMI) for the euro area manufacturing sector for December 2001 continued to improve partly due to progress in inventory adjustments following the production cuts.
Recently, however, there were signs that the pace of production cuts was moderating, as seen in the improvement in the Purchasing Managers' Index(PMI) for the euro area manufacturing sector for December for the second consecutive month, partly due to progress in inventory adjustments following the production cuts.
An uptrend has become evident recently in indicators related to business sentiment of the manufacturing sector globally, mainly on the back of an increase in IT-related demand led by that for smartphones and of the progress observed in emerging economies in inventory adjustments of materials Chart 2.
These members explained the background to this as follows: the depreciation of the yen since last year and the rise in crude oil prices affected domestic wholesale prices greatly, while factors stemming from the supply-demand balance such as progress in inventory adjustments in Japan were also contributing to the developments in wholesale prices.
One member analyzed time-series data of indices of industrial production and commented that production would recover after April 2002 at the earliest. A different member, pointing to a delay in inventory adjustments in materials industries, said that they would be completed in and after the first half of fiscal 2002.
Although the Japanese economy deteriorated significantly, exports and production have started to pick up since hitting bottom in February 2009, due to recovery in overseas economic conditions, mainly in emerging economies such as China, and progress in inventory adjustments at home and abroad.