ID :
199882
Mon, 08/08/2011 - 19:25
Auther :
Shortlink :
https://oananews.org//node/199882
The shortlink copeid
Gov't to upgrade economic view amid signs of recovery from disaster
TOKYO, Aug. 8 Kyodo - The government is set to upwardly revise its basic assessment on Japan's economic conditions, encouraged by recovery in production and exports from a significant slowdown in the wake of the March earthquake and tsunami, officials said Monday.
The upgrading in the August report will be the first in two months. The Cabinet of Prime Minister Naoto Kan is expected to endorse the report on Wednesday.
The March 11 disaster disrupted nationwide supply chains for key components, negatively affecting such major exporters as carmakers and technology firms.
In July, the Cabinet Office said in its assessment that ''upward movements are observed in the Japanese economy while difficulties continue to prevail'' due to the natural disaster. For this month, the office will further stress the upward movement, according to the officials.
But the report is also expected to point to some downside risks to the recovery, including negative impact on exports from the recent surge in the yen against the U.S. dollar and other major currencies.
The upgrading in the August report will be the first in two months. The Cabinet of Prime Minister Naoto Kan is expected to endorse the report on Wednesday.
The March 11 disaster disrupted nationwide supply chains for key components, negatively affecting such major exporters as carmakers and technology firms.
In July, the Cabinet Office said in its assessment that ''upward movements are observed in the Japanese economy while difficulties continue to prevail'' due to the natural disaster. For this month, the office will further stress the upward movement, according to the officials.
But the report is also expected to point to some downside risks to the recovery, including negative impact on exports from the recent surge in the yen against the U.S. dollar and other major currencies.
