Japan Economy Nears Record Postwar Growth Streak

The expansion has continued for 71 months through May despite higher oil prices linked to the war in Iran and the central bank's efforts to raise 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 assessment is fueling expectations that the Cabinet Office's leading index will show continued expansion. The index for May, scheduled for release on July 7, is projected to mark a 72nd straight month of growth. If readings for June and July also indicate expansion, the current streak would exceed the previous record of 73 months set after the war.