Asian Economy: Overview, Growth and Development - Japan says economy in modest recovery.

Byline: S. KAMAL HAYDER KAZMI

Japan kept its assessment of the economy unchanged in February as consumer spending remained on a recovery trend despite soft exports and factory output due to the global economic slowdown.

The government also retained its caution over the impact of global monetary tightening, price hikes and supply constraint in its monthly report. It will continue to closely monitor financial market fluctuations and China's COVID-19 situation, the report said.

The new economic assessment comes after data last week showed Japan's economy averted recession but rebounded much less than expected in the fourth quarter last year as business investment...