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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61622)	3/7/2002 12:34:58 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Japan to reveal continuing economic decline By David Pilling and Bayan Rahman in Tokyo Published: March 6 2002 07:40 \| Last Updated: March 6 2002 19:42 markets.ft.com Japan is almost certain to post three consecutive quarters of economic decline when gross domestic product figures are released on Friday. Capital spending data published on Wednesday by the finance ministry, which show a 14.5 per cent drop year on year, suggest the economy shrank by about 1 per cent in the three months to December, against the same period last year. That would be a slightly sharper fall than many had been expecting and represent the first nine-month decline in GDP since 1993. Capital spending fell for the first time in two years as companies, led by construction businesses and electrical and machinery-makers, slashed spending on plant and equipment by 14.5 per cent year on year, according to a finance ministry survey. "This is the final piece of the puzzle," said Jeffrey Young, economist at Nikko Salomon Smith Barney, who said the economy was almost certain to have contracted in the three months to December.