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Japan to raise economic view for 3rd straight month: Kyodo

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(Globalpost/GlobalPost)

TOKYO (Reuters) - Japan's government will likely raise its assessment on the economy for the third straight month in July on upbeat firms' production activity and solid consumer spending, Kyodo news agency reported on Thursday.

The government is also considering using an expression "recovery" in the monthly economic report for the first time in 10 months, according to Kyodo.

It also cites improving corporate earnings and recovering their capital spending behind the upgrade in the economic view in the report, which is to be made public on July 23, Kyodo said.

In June, the government said a pickup in exports and industrial output was supporting a steady economic recovery led by its sweeping fiscal and monetary stimulus policies.

Last week, the Bank of Japan said the world's third-largest economy was finally recovering as it kept monetary policy steady, its most optimistic view in two-and-half years reflecting the impact of a weakening yen and its massive monetary stimulus on activity.

(Reporting by Kaori Kaneko; Editing by Ron Popeski)

http://www.globalpost.com/dispatch/news/thomson-reuters/130719/japan-raise-economic-view-third-straight-month-kyodo