RTTNews - Thursday, the Bank of Japan raised its economic assessment for the third month, citing an increase in public investment and pick-ups in exports and production.
In its latest monthly report of recent economic and financial developments, the central bank said Japan's economic conditions have stopped worsening, revising June's view that economic conditions, after deteriorating significantly, have begun to stop worsening.
Looking forward, the BoJ said Japan's economic conditions are likely to turn upward over time. In June, the bank had said Japan's economy is likely to show clearer evidence of leveling out over time.
Moreover, the central bank said exports and production are expected to continue recovering, mainly due to progress in inventory adjustments both at home and abroad. Public investment is expected to continue increasing. On the other hand, domestic private demand is likely to remain relatively weak with corporate profits and firms' funding conditions remaining severe and a worsening employment and income situation.
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