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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (70946)	11/6/2007 1:27:37 PM
From: RealMuLan	Read Replies (1) of 116555

Japan's Leading Economic Index Drops to Decade-Low 0% (Update4) bloomberg.com By Keiko Ujikane Nov. 6 (Bloomberg) -- Japan's broadest indicator of the outlook for the economy fell to the lowest level in a decade, signaling growth may stall. The leading index was zero percent in September, the Cabinet Office said today in Tokyo, matching the estimate of all 28 economists surveyed by Bloomberg News. A reading of below 50 indicates the economy may slow in three to six months. The Bank of Japan cut its growth forecast last week, in part because of a decline in housing starts caused by a change in building regulations. Industrial production slid in September from a record, summer bonuses dropped for the first time in three years, export growth slowed and the jobless rate rose. ``The toll of the warning bell on the economic outlook just got a lot louder,'' said Glenn Maguire, chief Asia economist at Societe Generale SA in Hong Kong. ``This neatly underscores the complete loss of dynamism and vigor in the Japanese economy.''

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