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Financial News: Japan Govt Raises Economic Assessment

Japan Govt Raises Economic Assessment

07/26/2022 - 04:09:00 (RTTNews)

(RTTNews) - Japan's government raised its economic view citing improvements in private consumption and employment.

In the latest monthly report released Tuesday, the cabinet office said the Japanese economy is picking up moderately.

The government lifted its view on private spending, saying the consumption is picking up moderately. Also, the assessment of employment situation was raised.

Further, the office said business investment shows movements of picking up. Exports are almost flat and industrial production appears to be pausing for picking up. Corporate profits are improving as a whole, although some weaknesses remain.

On the price front, the office noted that consumer prices are rising.

Concerning short-term prospects, the Cabinet Office said the economy is expected to show movements of picking up, supported by the effects of the policies while all possible measures are being taken against infectious diseases, and economic and social activities proceed to normalization.

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