Japan's first quarter growth has been revised up. The Cabinet office reported on Monday that real GDP grew 1.0 percent in the first three months of the year, slightly better than the 0.9 percent growth initially reported.
In another positive sign for the Japanese economy, consumer confidence improved in May. Another Cabinet Office report on Monday showed that the consumer confidence index for general households rose to 45.7 in May from 44.5 in April.
However, the Cabinet Office's economy watchers survey was more downbeat. The index for current conditions fell to 55.7 in May from 56.5 in April. The index for future conditions fell to 56.2 from 57.8.
Nevertheless, the outlook for Japan and other major developed economies appear to be improving, according to a report from the Organisation for Economic Co-operation and Development on Monday. The OECD's composite leading indicator for the OECD as a whole rose to 100.6 in April from 100.5 in March. The US, euro area and Japan all saw increases in their CLIs.
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