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Politics : Formerly About Applied Materials

AMAT 319.11

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Jan 15 3:59 PM EST

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To: StanX Long who wrote (62080)	3/14/2002 2:28:10 AM
From: StanX Long	Read Replies (1) of 70976

Japan c/a surplus jumps, bankruptcies soar (UPDATE: Updates with bankruptcy figures) Thursday March 14, 2:17 am Eastern Time By Shinichi Kishima biz.yahoo.com TOKYO, March 14 (Reuters) - Japan's current account surplus logged its second biggest rise on record in January as a budding world recovery helped curb a slowdown in exports and as Japanese reaped strong returns on their offshore investments. ADVERTISEMENT But not everything in the balance of payments data, published on Thursday, was uplifting as the surplus was partly due to imports being restrained by a weak domestic economy. The grim economic picture was also highlighted by bankruptcy figures for February which suggested corporate failures could set a record high in the current business year to March 31. Together, the data underscore a view that Japan, its fiscal and monetary policy already stretched, would have to rely on an upturn in the United States and the rest of the world as it struggles to recover from a protracted recession. The Ministry of Finance said the surplus in the current account, the broadest measure of trade in goods and services, grew 224 percent from a year earlier to 709 billion yen ($5.48 billion), the second largest rise since records began in 1985 and the fourth straight month of gains.

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