The government on Thursday upgraded its basic assessment of the economy for the second straight month in June as the weaker yen has helped exports and despite growing uncertainties over the economic outlook due to recent financial market turmoil.

The economy is "picking up steadily," the Cabinet office said in its monthly economic report for June, making upward revisions to six of the 14 categories, including exports, industrial output, corporate profits and employment.

In the May report, it said the economy is "picking up slowly."