The government left its bleak assessment of the economy unchanged in a monthly report issued Wednesday but said the decline in exports may be bottoming out.

The Cabinet Office said in the January report, "The economy continues to deteriorate," repeating the phrase used in the December report.

The government attributed the harsh assessment to weakening personal consumption -- a key gauge of the economy that accounts for some 60 percent of gross domestic product -- and a record-high 5.5 percent jobless rate in November, falling industrial output and corporate profits, and declining corporate investments.