Japan upgraded its overall view on the economy for the first time in three months in July, signalling a broader recovery in economic activity as the drag from the COVID-19 pandemic continued to fade, reported Reuters as Japan released July economic report.
Key findings
The upgrade was largely because the government turned more positive about consumption and employment amid hopes that strength in consumer activity will help shield the economy from rising risks of slowing global demand.
The government raised its view on private consumption, saying it was gently picking up as it became more optimistic about spending on services such as overnight stays and transportation.
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