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To: diana g who wrote (72407)	9/6/2000 10:32:52 AM
From: Jon Cave	Read Replies (2) \| Respond to of 95453

Japanese Economy Recovering Well TOKYO, Sep 06, 2000 (AP Online via COMTEX) -- A key indicator for Japan's economy rose in July for the second straight month, a sign the nation may be recovering from its worst downturn since World War II. The index of leading economic indicators - a measure of anticipated economic change - stood at 57.1, up from 55.0 in June, the government said Wednesday. The Economic Planning Agency believes a reading above 50 means economic expansion over the short term, while a level below 50 heralds contraction. July's figure was in line with economists' expectations. The index had fallen below the threshold in May and April. Taichi Sakaiya, the agency's chief, said on Tuesday the nation's gross domestic product - the total value of goods and services produced - grew in the April-June period for the second straight quarter. The government is set to release the new GDP figures on Sept. 11. The economy grew 2.5 percent in the January-March quarter from the previous quarter, up from its preliminary estimate of 2.4 percent. Despite Sakaiya's optimistic prediction, much of Japan's growth has come from massive government borrowing for roads, bridges and other public works projects. Household spending figures released Tuesday suggested a long-awaited recovery in consumer spending - which accounts for more than half of GDP - is still a way off.