Japan raises economic view, signals broader recovery

A vendor selling food wait for customers at the Ameyoko shopping district in Tokyo, Japan, June 27, 2022. Picture taken on June 27, 2022. REUTERS/Kim Kyung-Hoon

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  • Govt’s July report gives more optimistic view on economy
  • Private consumption, employment, import view revised up
  • Report warns of rising raw material prices, supply constraints

TOKYO, July 26 (Reuters) – Japan upgraded its overall view on the economy for the first time in three months in July, signalling a broader recovery in economic activity as the drag from the COVID-19 pandemic continued to fade.

The upgrade was largely because the government turned more positive about consumption and employment amid hopes that strength in consumer activity will help shield the economy from rising risks of slowing global demand.

“The economy is picking up gently,” the government said in its July economic report, describing the world’s third-largest…

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