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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who started this subject7/16/2001 2:25:19 AM
From: Anchan  Read Replies (2) of 74559
 
We in Japan, with the weather god on our side...
Monday, July 16, 2001
Heat Wave May Lift July-Sept GDP By 0.7
Ptn: Mizuho Sec

TOKYO (Nikkei)--If the current heat wave continues, real economic
growth will be propped up by 0.7 percentage point for the
July-September quarter, according to an estimate released by
Mizuho Securities Co. on Monday.

Compared to a year earlier, the effect of the unusually hot summer
will result in a 0.2 point rise in gross domestic product, the
estimate says.

The figures are based on the assumption that this year's mean
summer temperature will be 1 degree C above the 1990s average.

Mizuho Securities projects the exceptionally hot weather to shore
up real consumer spending by 1.3 points. Sales of air conditioners
and beer are already up and Tokyo Electric Power Co. (9501)
recently recorded peak capacity of 62.3 million kilowatts. Investors
expect demand for beverages and summer clothing to rise, giving a
boost to the share prices of producers. Swimming pools and
beaches expect more visitors as well.

However, Mizuho Securities sees the effect of the heat wave as a
one-time factor with a marginal impact on the long-term growth of
the overall economy.

(The Nihon Keizai Shimbun Monday evening edition)
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