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Japan Sees Continued Economic Recovery Despite Omicron Spread

  • Government keeps economic assessment unchanged in January
  • Japan last month raised view for first time in 17 months

Japan’s government kept its monthly economic assessment unchanged in January, sticking to the view that a recovery is continuing even as the omicron variant of the coronavirus spreads across the country.

Despite surging infection rates in recent days, the Cabinet Office said it still sees the economy picking up as the severe conditions caused by the pandemic gradually ease. In terms of specific components, the government raised its view of industrial production, citing signs of improvement in the country’s key factory sector.