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Japan's government has left its main economic assessment unchanged from the previous month but upgraded its assessment on housing investment for the first time since January, the Cabinet Office said Thursday

Overall, Japan's economy is still seeing signs of weakness in some areas, although there are signs of recovery from the pandemic, the government said.

The Cabinet Office also slightly tweaked its assessment of corporate goods price index, saying that "CGPI is rising" in the wake of the recent rise in petroleum and coal products caused by strong global demand. The previous view was CGP is rising moderately.

The assessment of other components was largely unchanged from the previous months, pointing to exports of automobiles remaining weak but exports of capital goods were strong.

The government slightly tweaked its near-term outlook, saying that the economy is expected to show signs picking up, supported by the effect of policies and the improvement in overseas economies while taking measures to prevent the spread of Covid. The report also warned that full attention should be given to the "movement of infections that would affect the domestic and foreign economy," adding that attention should be given to the effects of fluctuations in both financial and capital markets.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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