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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (38820)	5/10/2002 4:32:46 PM
From: UnBelievable	Read Replies (3) of 209892

Japan To `Effectively Declare` Econ Hit Bottom Twelve years after their bubble burst they are still saying that the bottom is in. 05/10/2002 Dow Jones News Services (Copyright © 2002 Dow Jones & Company, Inc.) WASHINGTON (Dow Jones)--The Japanese government is poised to "effectively declare" that the economy hit bottom in its next monthly economic outlook due out next week, the major daily Yomiuri Shimbun reported Friday on its Web site. The report, however, said that the government will refrain from explicitly describing the economy as "having bottomed out" because of remaining weakness in corporate investments and household consumption. The paper did not elaborate on how the government will declare a defacto bottom-out, but observers say it will likely point out clearer trends of increasing exports and production, substituting the fact as the declaration. The Cabinet Office, in charge of the overall economic assessment, upgraded the economic view consecutively for the last two months. Fiscal and Economy Minister Heizo Takenaka told a press conference earlier Friday that "Current data indicate the economy is firmly headed toward hitting bottom."

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