Japan is close to notching its longest economic growth streak since WWII, as the nation weathers higher oil prices from the war in Iran and the central bank¡¯s ongoing quest to normalize interest rates.
The government kept its view that the economy is ¡°recovering moderately,¡± signaling the expansion still has room to run, according to its monthly economic report released Tuesday. That¡¯s fueling speculation that the Cabinet Office¡¯s leading index ¡ª a composite of key economic indicators designed to predict the direction of the economy ¡ª will continue on its expansionary trend.
The index for May, due July 7, is expected to show that the economy was on a growing trend for a 72nd month, or six years. If the June and July readings also point to continued growth, the current expansion would surpass the previous record of 73 months.
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