Prime Minister Shinzo Abe's administration on Tuesday upheld its relatively bullish view of the economy despite the recent surprise release of data showing Japan had fallen into recession following the April 1 consumption tax hike.

"The Japanese economy is on a moderate recovery, while weakness can be seen in private consumption," the Cabinet Office said in its monthly report for November. It voiced concern that the consumption tax increase to 8 percent is still dampening domestic demand.

On Friday Abe dissolved the Lower House for a snap election on Dec. 14 that he billed as a referendum on his "Abenomics" policies, which center on drastic monetary easing and massive fiscal spending.