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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who started this subject11/14/2001 1:48:05 AM
From: Gut Trader  Read Replies (2) of 436258
 
Japan Takenaka: Economy Not In Deflationary Spiral

TOKYO -(Dow Jones)- Japan's economy is not in a deflationary spiral at this time, Economy Minister Heizo Takenaka reiterated Wednesday.
"I have said the economy is perched at the entrance of a deflationary spiral, but this does not mean it has entered such a state. I mean to say conditions are very severe," Takenaka told a Parliamentary committee Wednesday.

Takenaka has repeatedly said the descent of the economy into a deflationary spiral would require a more drastic policy response on the part of the government, possibly involving large fiscal stimulus measures, in order to stem a dangerous economic decline.

As of now, Takenaka has said, however, firm consumer spending is supporting the economy and preventing the onset of a deflationary spiral. He noted earlier this week, however, that consumer spending has weakened of late after showing some strength in the first half of the fiscal year, and that this development needs to be watched closely
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