Japan's government raised its economic assessment in June for the first time since 2018 as a sharp deterioration caused by the new coronavirus outbreak had nearly come to an end.
FILE PHOTO: Pedestrians cast shadows as they make their way at a financial district in Tokyo, Japan, January 26, 2017. REUTERS/Kim Kyung-Hoon
Although the economy remained in an “extremely severe situation” due to the coronavirus pandemic, it had “almost stopped worsening”, the June report said. Prime Minister Shinzo Abe declared the emergency in April and asked people to stay home and businesses to close to prevent the virus spreading. The government upgraded its view on consumer spending for the first time since January 2018, noting signs of improvement as retailers and restaurants re-opened.
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