Machinery Investment: Cabinet Office and Japanese Economy

machinery investment: While consumer sentiment is on a weak note, the government left its assessment on private consumption unchanged, saying that private consumption is picking up, on the back of brisk sales of new automobiles and strong demand for consumer electronics, according to The Japan Times. Business investment is on the increase at a moderate pace, while weakness is seen recently in machinery investment, the report said, keeping its assessment unchanged. The Japanese economy is recovering at a moderate pace while weakness in exports and industrial production continues, said the monthly economic report for June compiled by the Cabinet Office and submitted to a meeting of relevant economic ministers. ; The government has used the same wording for two months in a row and maintained its view that the economy has continued to grow since December 2012, as consumer spending is recovering although production has been weighed down by the protracted U.S.-China trade friction. It also left its view on the employment situation intact, saying it is improving steadily. Corporate profits hold firm at a high level, it said. In the report, the government revised up its assessment on corporate profits for the first time in 27 months. (news.financializer.com). As reported in the news.