17th Mar 2014 11:19
TOKYO (Alliance News) - Japan's government on Monday left its overall economic assessment unchanged saying the economy is recovering at a moderate pace.
But it upgraded the view on industrial output. The cabinet office said, "industrial production is increasing with a last-minute rise in demand before a consumption tax increase."
The central bank also raised its assessment of industrial production last week. The Bank of Japan said output has been increasing at a somewhat accelerated pace. However, downgrading its view on exports, BoJ said shipments have recently leveled off more or less.
The government stuck to its assessment on exports, saying they are flat. Similarly, the cabinet office said business investment is picking up, unchanged from February report.
Prices are rising moderately, the cabinet office said today. The central bank aims to achieve 2% inflation by early 2015.
Copyright RTT News/dpa-AFX