The Bank of Japan said Wednesday that it expects export growth to gain momentum gradually, while industrial production is seen rising moderately going forward.
"Exports are expected to gradually emerge from the current phase of flat growth and increase moderately, mainly reflecting a pick-up in the pace of recovery in overseas economies," the central bank said in its monthly report.
The economy is also expected to gradually emerge from the current flat growth and return to a moderate recovery path as the pace of recovery in overseas economies picks up and reconstruction-related demand strengthens.
BoJ said it expects business fixed investment to continue a moderate increasing trend, while housing investment as well as public investment are expected to increase gradually. Private consumption will remain firm, the report said.
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