Japan Govt Maintains Economic Assessment

Japan's government maintained its economic assessment but lifted its view on industrial production, according to monthly report, released by the Cabinet Office on Tuesday.

The government repeated that the economy is recovering at a moderate pace while weakness continuing mainly in exports.

The assessment for industrial production was raised as the government said output is flat recently, while weakness continues in some sectors. In the June report, the government said industrial production is in a weak tone recently.

In the short-term, weakness remains but the economy is set to continue recovering underpinned by the effects of the policies, while employment and income situation is improving.

"However, further attention should be given to the effects of situations over trade issues on the world economy, while the prospect of the Chinese economy, the uncertainty of situations and policies in overseas economies and the effects of fluctuations in the financial and capital markets also need attention," the cabinet office reiterated.