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Economy

Japan upgrades economic view for first time in 17 months

December report more optimistic as falling COVID-19 cases kindle optimism

Tokyo's Ameyoko shopping district. Private consumption and the services sector have benefitted from the easing of coronavirus restrictions.    © Reuters

TOKYO (Reuters) -- Japan raised its overall economic assessment for the first time in 17 months in December as consumers and companies turned more optimistic about the outlook on falling COVID-19 cases at home.

Authorities raised their views on private consumption and business conditions, with the services sector underpinned by easing coronavirus restrictions, but flagged ongoing risks from supply constraints and raw material prices.

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