"There is reconstruction demand and the economy is slowly recovering"
- monthly report of the Japan's Cabinet Office
Following gradual expansion of exports and increase of private consumption, Japan's government improved the outlook, expecting further improvement of economic conditions, as recently suggested by accelerating advancement of the gross domestic product.
However, officials warned that deteriorating debt crisis in Euro zone and ambiguity regarding its future could potentially curtail fragile amelioration of main indicators of economic health, especially, if Greece exits the bloc, thus aggravating both local and global prospects.
In a monthly report, the Cabinet Office described the effects of the earthquake as "harsh", but, according to the publication, "there is reconstruction demand and the economy is slowly recovering."
© Dukascopy Bank