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Tuesday March 25, 1:58 PMJapan's economy faces growing risks: minister
"Risks to the Japanese economy have been increasing and we need to watch them closely," Hiroko Ota said. A government survey showed Monday that sentiment among large Japanese companies deteriorated for a second straight quarter. The data highlighted corporate concerns about the US economic slowdown and higher oil prices," Ota told reporters. Last week, the government downgraded its assessment of the economy for a second straight month, saying the recovery "appears to be pausing". Ota said the length of the pause was likely to depend on "the depth of the US economic slowdown and how long it continues". Japan's economy is gradually recovering from a slump stretching back over a decade but consumer spending remains sluggish while exports to the United States have turned lower amid a housing slump there. |
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