Japan government says country's economy is recovering moderatelyStaff writer ▼ | December 22, 2015
The government of Japan maintained its overall assessment of the economy as recovering moderately, helped by firm consumer spending and improving corporate profits.
Asia Helped by firm consumer spending
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. ■