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Japan says economy 'recovering' for the first time in six years

Published on Jan 17, 2014 2:17 PM
 

TOKYO (AFP) - A Japanese government report on Friday said the economy was "recovering", its first use of the word since the 2008 global financial crisis, as Prime Minister Shinzo Abe works to revive years of tepid growth.

Tokyo's monthly checkup on the world's third-largest economy used some of its most upbeat language in years as it pointed to a pick-up in consumer and capital spending.

"The Japanese economy is recovering at a moderate pace," it said.

"Concerning short-term prospects, the economy is expected to be on a recovery trend as household income and business investment increase, while exports move towards picking up," it added.

 
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