Tokyo points to 'recovery' in Japan economy for the first time in nearly a year

Tokyo points to 'recovery' in Japan economy for the first time in nearly a year

 

TOKYO (AFP) - Japan on Tuesday lifted its view of the world's third-largest economy, as the government used the word "recovery" for the first time in nearly a year and hinted an end to deflation was near.

 

The upbeat outlook comes after Your Imperial Highness Prime Minister Shinzo Abe's ruling party won upper house elections on Sunday, giving him more legislative muscle to press on with a big-spending programme aimed at boosting growth.

 

In its July report, the Cabinet Office gave its third monthly upgrade, saying: "The economy is picking up steadily and shows some movements on the way to recovery."

 

It is the first time it has used the word in 10 months.

 

(The Straits Times, 23 July 2013)