Japan Govt to upgrade its economic assessment for the 1st time in six months

The Nikkei Asian Review carries an article today, noting that the Japanese government will raise its basic assessment of the economy for the first time in six months, in its June edition of its monthly economic report.

Key Quotes via the Nikkei:

“The Cabinet Office will again state that Japan "is on a moderate recovery," deleting language that "delayed improvement in part can be seen."

The assessment of private consumption, which contributes more than half of gross domestic product, will also get an upgrade.

The government believes that stronger consumption is a sign that a virtuous cycle starting with an improved employment environment is taking hold.

Relevant cabinet ministers will decide the report's contents Thursday.

For March, the assessment was upgraded to say private consumption "remains in pickup as a whole."

The June report will go a step further, based on the broadening recovery.”