Japan keeps economic assessment in July, business conditions improve

Japan on Wednesday retained its assessment on the economy as “recovering at a moderate pace,” using the same expression for the third straight month, as domestic demand remains solid following the removal of anti-COVID curbs.

In its monthly report for July, the Cabinet Office said Japanese firms see improving business conditions, the first upward revision in the category in seven months.

The change came after manufacturers were heartened by the easing of supply bottlenecks that had hurt production, while service providers continue to benefit from pent-up demand from the COVID-affected period. ...