Japan keeps key assessment on economy as showing signs of "picking up": gov't report
- Source: Xinhua
- [11:28 August 11 2009]
- Comments
The Japanese government decided Tuesday to maintain its key assessment of the nation's economy as showing signs of recovery as exports, production and consumption have showed improvements.
The government made the judgment after upgrading its assessment for three months in a row.
"The economy has been showing movements of picking up recently while in a difficult situation," said the cabinet office in a monthly report.
Meanwhile, the office called for caution over rising unemployment rates, warning that the level of economic activity in the country is still low amid the global recession.
Japan's exports and industrial output "are picking up" while private consumption has been showing "movements of picking up recently," said the report.
In light of the worsening employment situation, the report said that the economy "is likely to remain severe for the time being" although further recovery is expected thanks to progress in inventory cuts by manufacturers, the effects of the government's stimulus policies and recoveries in other major economies.
