Japan upgrades economic view for first time in 8 mths

Tokyo

JAPAN'S government upgraded its view on the overall economy for the first time in eight months on Monday, noting a moderate recovery trend as factory output is picking up on the back of improving corporate activity.

In its monthly economic report, the government also raised its assessment of production, corporate profits and sentiment, encouraged by further signs of an economic recovery from a recession unexpectedly caused by a sales tax hike last April.