The Bank of Japan said today the nation's economy is recovering in line with an outlook it issued three months ago, and upgraded its monthly assessment.
It also said consumer prices were recovering as forecast in its April outlook report, in which it said that the year-on-year change in the consumer price index should be near flat in the financial year ending next March 31st.
"Japan's economy continues to recover, albeit with adjustments in information technology-related sectors," the monthly report said.
It dropped its reference to a recovery trend, wording which had left room for an interpretation that there was temporary weakness.
