Japanese Government Revises Economic Outlook Upward

First time in 4 months

The Japanese government on Friday upwardly revised its assessment of the economy for the first time in four months as the recovery picked up, reflecting improvement in household income and business investment.

"The Japanese economy is recovering at a moderate pace," the Cabinet Office said in its monthly report. This is an upgrade from its view last month that the economy is "in the process of recovery at a moderate pace."