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Japan's Industrial Output Rises

Government is optimistic as economy has now been expanding for 63 months.

Better than an initial estimate of a decline of 0.2%, Japan's industrial output rose by a revised 0.7% in February from the previous month, the government said April 17, while maintaining its upbeat assessment of the overall economy.

Year-on-year output was up 3.1%, according to the Ministry of Economy, Trade and Industry.

The government also maintained its upbeat view of the economy in a monthly report, although it slightly downgraded its view on industrial production. "The economy is recovering, despite weakness in industrial production in some sectors," the Cabinet Office said, dropping a reference in last month's report to weakness in consumer spending.

Over the short term, the government remained positive about the outlook, saying "economic recovery is expected to continue, supported by domestic private demand as high corporate profits feed into the household sector. It said that private consumption "is showing a pick-up," upgrading its earlier view that private consumption was "almost flat."

The report indicated that Japan's economy has now been expanding for 63 months, its longest post-war boom.

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