Economic Planning Agency on Tuesday upgraded its assessment of the economy for the second consecutive month and said it is gradually approaching a self-sustaining recovery.
"The economy, which has been supported by public demand, shows growing signs of achieving an autonomous recovery," the EPA said in its monthly report for June. Economic activity "continues to improve moderately," it said, repeating a phrase it used in May.
Missing from the report was its statement that aggregate demand remains weak, a line it has been using for its economic assessments from March to May. EPA chief Taichi Sakaiya, however, said it is too early to say the economy is on solid footing.