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MNI: Japan Govt Ups Economy, Private Consumption, Labour Views

(MNI) Tokyo
TOKYO (MNI)

Japan's government raised its main economic assessment for the first time in three months and also its assessment on private consumption and employment while keeping an eye on a surge in Covid-19 cases, the Cabinet Office said on Tuesday.

“The Japanese economy is picking up moderately.” The previous view was “The Japanese economy shows movements of picking up," the Cabinet Office said, with an official adding that the upward revision was due mainly to a recovering private consumption, which supports spending and jobs.

A recovery of services and entertainment spending, was noted by the official, although spending on durable goods and automobiles is being weighed down by the supply gaps. But the official said that the spread of Covid-19 cases is being monitored for the impact on spending.

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Japan's government raised its main economic assessment for the first time in three months and also its assessment on private consumption and employment while keeping an eye on a surge in Covid-19 cases, the Cabinet Office said on Tuesday.

“The Japanese economy is picking up moderately.” The previous view was “The Japanese economy shows movements of picking up," the Cabinet Office said, with an official adding that the upward revision was due mainly to a recovering private consumption, which supports spending and jobs.

A recovery of services and entertainment spending, was noted by the official, although spending on durable goods and automobiles is being weighed down by the supply gaps. But the official said that the spread of Covid-19 cases is being monitored for the impact on spending.

Keep reading...Show less