The Bank of Japan (BOJ) gave a brighter view of the economy this morning by saying it is starting to recover on rising exports and a recovery in capital spending.
"The economy is starting to recover gradually," it said in its November economic report. In October the BOJ said the foundations for a gradual economic recovery were coming into place.
Today's report is effectively the third upgrade in as many months, although the BOJ has decided that before formally upgrading its assessment it will wait until a review, expected in January, of its twice-yearly outlook released in October.