The Japanese government raised its monthly economic assessment in May for the first time in 10 months, as consumption and production improved and exports increased.
In its latest report, Japan’s cabinet said the economy was recovering at a moderate pace, adding that the trend was expected to continue as the job and income situation improved.
The Council noted that the slowdown in external economies was dangerous for Japan’s economy.
Data showed that Japan’s economy grew at the fastest pace in the first three months of 2023.
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