The Japanese government issued its June monthly assessment of the economy, ICYMI.
In summary the report said:
- Japan's employment trends showed "improvement recently", the first time the government had upgraded its assessment of the employment situation in 11 months
- noting a decline in the jobless rate and the biggest wage hikes in about three decades for this fiscal year pledged by major firms
- government maintained its overall assessment of the economy for the month, saying it was "recovering moderately"
- citing solid consumer spending and capital expenditure, maintaining the assessment from May
- and corporate profits as "improving moderately overall"
- sounded a note of caution on the potential risks of a global economic slowdown, price increases and financial market volatility
