The Japanese government has kept its assessment of the economy unchanged, saying it is showing signs of recovery. But officials cite a slowdown in China due to pandemic lockdowns as a downside risk.

The economic report for May released on Wednesday says service-related consumption, including dining out and travel, is picking up. It says economic and social activities are getting back to normal.

But the assessment of imports was downgraded to say they are weak in tone. The report also revised down its view of the global economy for the first time in more than two years.

Officials say the reason for that is the decline in China's industrial production as a result of lockdowns in Shanghai and other cities.

Looking ahead, the report cautions that attention needs to be paid to downside risks due to rising raw material prices and supply-side constraints.

It says the effects of the prolonged conflict in Ukraine and the resurgence of the coronavirus in China are causes of concern.