Bank of Japan Monthly Report, May 2004

The BOJ maintained its cautiously optimistic assessment in the report and said that overseas economies were expected to continue growing relatively fast, adding that the recovery of Japanese exports, corporate investment and production were likely to continue.

'Japan's economy continues to recover gradually and domestic demand is becoming firmer,' the bank said in the report, keeping the same wording as the previous report issued in April. 'Exports have been increasing substantially and business

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