Bank of Japan Monthly Report, June 2004

According to the Bank of Japan's June Monthly Report the Japanese economy is "gathering strong momentum" and continues to recover, increased production and corporate profits are having a positive effect on employment, it said.

"Japan's economy continues to recover, and the increases in production and corporate profits are exerting positive effects on employment," the bank said in its June report.

The Bank of Japan dropped the word ``gradual'' from its description of a recovery for the first time

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