TOKYO : Japan kept its assessment of the economy unchanged in February as consumer spending remained on a recovery trend despite soft exports and factory output due to the global economic slowdown.The government also retained its caution over the impact of global monetary tightening, price hikes and suppl
TOKYO : Japan kept its assessment of the economy unchanged in February as consumer spending remained on a recovery trend despite soft exports and factory output due to the global economic slowdown.
The new economic assessment comes after data last week showed Japan's economy averted recession but rebounded much less than expected in the fourth quarter last year as business investment slumped. Consumer spending, which accounts for more than half of Japan's gross domestic product , was"recovering moderately" as people spent on eating at restaurants and travelling as well as purchasing autos, according to the report.
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