23 Jul 2013
Japan upgrades its economic outlook for a 3rd straight month
FXstreet.com (Barcelona) - Japan's government released its monthly economic report, highlighting once again that the economy continues to show signs of a self-sustaining recovery.
The top headlines included the raised economic assessment for a 3rd consecutive month, further evidence that deflation is abating, a more optimistic view on Capex for the first time in 4 months, raised prospects on factory output as well as business sentiment as confidence strengthens due to a more competitive exports industry on a much cheaper yen.
According to the Japanese Cabinet Office in its monthly economic report on Tuesday: "The economy is steadily picking up and it shows some movement towards a self-sustainable recovery. Recent price developments indicate that deflation is easing."
However, there is much work to be done before a more robust recovery is achieved, the Cabinet Office said, adding "we need further recovery in firms' capital spending and the income situation."
The top headlines included the raised economic assessment for a 3rd consecutive month, further evidence that deflation is abating, a more optimistic view on Capex for the first time in 4 months, raised prospects on factory output as well as business sentiment as confidence strengthens due to a more competitive exports industry on a much cheaper yen.
According to the Japanese Cabinet Office in its monthly economic report on Tuesday: "The economy is steadily picking up and it shows some movement towards a self-sustainable recovery. Recent price developments indicate that deflation is easing."
However, there is much work to be done before a more robust recovery is achieved, the Cabinet Office said, adding "we need further recovery in firms' capital spending and the income situation."