The Bank of Japan on Tuesday upgraded its assessment of the economy in its monthly report for December for the fourth month in a row, citing improved corporate sentiment and more personal spending.
"Japan's economy is recovering gradually," the BOJ said in the report on economic and financial developments.
The expression is slightly more upbeat than that used in the November report, which said, "Japan's economy is starting to recover gradually."
For December, the BOJ said private consumption "is virtually flat," while the November report used the phrase "continues to be weak."