Bank of Japan sees continuing economic recovery
AFP, Tokyo
The Bank of Japan on Wednesday said in a monthly report that the Japanese economy will continue recovering despite some soft patches, leaving its view unchanged from December. "Japan's economy is expected to continue to recover," the central bank said in the January report. Exports have been flat and industrial output has been soft, hit by slowing demand in the information technology (IT) sector, but both corporate investment in factories and offices and the labour market were on an uptrend, the bank said. Japan's industrial production rose 1.5 percent in November month-on-month, the first such rise in three months, after falling 1.3 percent in October. A survey of manufacturers by the trade ministry showed that industrial output may fall 0.9 percent in December, but rise 2.8 percent in January.
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