URGENT: Japan cuts economy view to "weakening" in Sept. index report

© Kyodo News

Japan's government on Monday lowered its assessment of the country's economy to "weakening" due to deterioration in a key business index for September, the first downgrade in over two years.

The Cabinet Office revised downward its view by one notch from "improving" in the previous month, the most optimistic expression in the five-level evaluation, as the coincident index of business conditions for the reporting month fell 3.8 points from August to 87.5 against the 2015 base of 100.