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Japan government says country's economy is recovering moderately

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Staff writer ▼ | December 22, 2015
Japan government
Asia   Helped by firm consumer spending

The government of Japan maintained its overall assessment of the economy as recovering moderately, helped by firm consumer spending and improving corporate profits.

But its assessments of public investment and housing construction were downgraded while its view on employment was raised in its monthly report for December.

The world’s third-largest economy “is on a moderate recovery, while weakness can be seen in some areas,” the Cabinet Office said in the report.

Earlier this month the government revised upward Japan’s economic growth to an annualized real 1 percent in the July to September period from a 0.8 percent decline in preliminary data.

The economy contracted a revised 0.5 percent in the April to June quarter.

The government said construction of homes was almost flat in the December report, compared with its previous statement that it was generally picking up.

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