Japan gov’t ups May economic view for 1st time in 10 months

The government on Thursday lifted its view on the Japanese economy for the first time in 10 months, sounding more upbeat about exports and production in May while private consumption remains resilient due to the impact of COVID-19 waning.

In its monthly report for May, the Cabinet Office described the economy as “recovering at a moderate pace,” as it upgraded the view on exports for the first time since December 2020.

The government said previously that the world’s third-largest economy was “picking up moderately, although some weaknesses are seen.” The last time the office used the expression...