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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.43

-4.5%

Nov 20 4:00 PM EST

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To: Alex who wrote (27789)	2/7/1999 6:47:00 PM
From: goldsnow	Read Replies (1) of 116764

Official: Japan Poised for Recovery Sunday, 7 February 1999 T O K Y O (AP) JAPAN'S TOP economic official said Sunday that the Japanese economy hit bottom last fall and will pick up in the second half of the fiscal year starting in April, local media reported. "I think the worst period came late last September and October," Economic Planning Agency head Taichi Sakaiya was quoted by Kyodo News agency as having said on a debate program aired by national broadcaster NHK. While the economy remains at a standstill, Sakaiya said he expects it to turn up in the last six months of fiscal 1999, led by increased personal consumption and housing investment. He also said there is a "strong likelihood" the economy will reach the government's growth target of 0.5 percent for the fiscal year ending in March 2000, adding growth may actually surpass that projection, Kyodo said. The EPA's official 0.5 percent growth forecast - the lowest initial target set since World War II - has been widely criticized as overly optimistic by private sector economists. The government's revised economic projection for the current fiscal year ending calls for a decrease of 2.2 percent.

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