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To: oldirtybastard who wrote (60658)	1/23/2001 4:03:52 AM
From: oldirtybastard	Respond to of 436258

hohoho, Japan slipping back into recession? I guess recapitalizing the banks isn't helping. Maybe they should try raising rates for a while, that would be good for the clownbuck -g- iht.com The Ministry of Economy, Trade and Industry said its all-industries index rose 0.4 percent in November from the previous month, with a 0.6 percent rise in the service sector outweighing a 0.8 percent decline in industrial production. . But economists said the index, a rough proxy for gross domestic product, was down about 0.4 percent in October November from July-September, suggesting a possible decline in GDP in the fourth quarter. . They had been expecting an increase of 0.1 percent in the November index, but the outcome did not alter the general opinion that the an economy is losing momentum. . Noriko Hama of Mitsubishi Research Institute said the data were falsely reassuring, as the economy had stumbled badly since November. . "The overall situation has rapidly deteriorated since then - the horror stories have yet to show up in the indexes, but they will do so," Mr. Hama said. . Peter Morgan, chief economist at HSBC Securities, said the year-on-year rise in the index of 2.1 percent was the smallest since October 1999, pointing to a slowdown. (Reuters, AP) TOKYO The Japanese central bank sounded a cautious note about the economy Monday in its monthly report for January, saying export growth would slow because of the global economic downturn but stopping short of downgrading its official view. . The Bank of Japan said it would keep a close eye on risks from slowing foreign economies and on recent movements in financial markets, but it still predicted a gradual recovery for Japan. . "Japan's economy continues to recover gradually, but the pace is slowing due to decelerating export growth," the central bank said. . A government report released Monday showing a slight increase in economic activity in November seemed to lend support to the theory of sluggish growth. .