Japanese government maintains assessment on economy for April

08:27, April 19, 2010      

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The government of Japan has maintained its assessment that the economy is steadily improving in its monthly economic report, which was released by the Cabinet Office on Friday.

"The economy has been picking up steadily," the report said, maintaining the same view as March, when the government upgraded its view on the economy for the first time in eight months.

The report did note, however, that there were still problems the nation had to face before it was in full recovery, such as deflation and the severe unemployment situation.

In terms of businesses, the government upgraded its assessment for the first time in six months, saying the situation is improving. That move comes a month after the bank of Japan's (BOJ) Tankan survey showed that sentiment had improved significantly over the last few months among Japan's business elite.

The report kept the view that Japan is in a mild deflationary phase, reflecting the sentiments of both the BOJ and the Cabinet.

Japan is attempting to recover from the worst economic conditions it has seen in recent times, and while things are looking up for the nation, recent improvement are in part due to stimulus measures put in place by the government and the BOJ. Those two bodies are now working together to try to kick start a self-sustaining recovery for the economy.



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