Friday, Japan's Cabinet Office maintained its economic assessment for the second straight month saying that the economy is worsening rapidly while in a severe situation.

In its monthly report for April, the Cabinet Office lowered its assessment of business sentiment, while raised its evaluation of exports and public investment.

The government said exports are decreasing substantially, a slight improvement from the previous month's assessment that said shipments are falling very substantially.

Earlier in the day, the Bank of Japan lowered its assessment in seven of the country's nine regions in its latest regional economic report. The central bank's view on Hokkaido, Tohoku, Hokuriku, Kanto-Koshinetsu, Kinki, Shikoku and Kyushu-Okinawa underwent downward revisions. Meanwhile, the central BoJ maintained its view on Tokai and Chugoku.

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