Japan Govt raises economic view for the first time in six months

The Japanese government raised its economic assessment for the first time in six months, the latest monthly forecasts report revealed.

Key Highlights via Reuters:

Govt raised its overall view of the economy for the first time in six months, reflecting a gradual pick-up in private consumption and underscoring its confidence that an export-led recovery is broadening.

The government also raised its view of private consumption - which has been a weak link in the economy - saying that it is picking up gradually.

Raised its view on capital spending - needed for a sustainable economic recovery - for the first time in four months.

The Cabinet Office said in its monthly economic report for June, “The economy is experiencing a moderate recovery. Business investment is picking up.”