Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (24140)	2/23/2005 12:59:46 AM
From: RealMuLan	Respond to of 116555

Japan says economy on recovery track 02-22-2005, 12h30 A Tokyo crowd. The government said that it maintains its view that a current adjustment phase in the domestic economy should give way to a fuller recovery later this year. (AFP/File) TOKYO (AFP) - The government said that it maintains its view that a current adjustment phase in the domestic economy should give way to a fuller recovery later this year. The Cabinet Office, in its regular monthly report for February, also removed any mention of a strong yen as a risk factor, reflecting the unit's recent slide against the dollar which has eased concerns a strong currency could hurt Japanese exports and overseas corporate earnings. "The economy is recovering at a moderate pace, while some weak movements continue to be seen," the Cabinet Office said, repeating the view expressed in January. It also maintained its position that Japan's recovery is likely to continue on the back of expected steady global economic growth and the resiliency of the Japanese corporate sector. Recent data showed the Japanese economy shrank for the third consecutive quarter in the October-December period, meaning it was in recession for most of 2004, but economists said temporary factors had hurt consumer spending last year. "Attention should be given to the inventory adjustment in the IT-related area and to the development of crude oil prices and other factors," the Cabinet Office said in the report. "Corporate profits are improving sharply and business investment is increasing," it said. "Private consumption is almost flat (while) the employment situation is improving although some severe aspects remain." Unemployment in December fell to a six-year low of 4.4 percent, with the tally for 2004 declining to 4.7 percent from 5.3 percent in 2003, which was the highest level in more than five decades. Other data showed, however, that average wages continued to fall as companies concentrate on hiring part-time and contract workers who are paid less and offered fewer benefits than regular, full-time employees. Average basic pay in December fell for the eighth consecutive month and average basic pay in 2004 dropped for the fourth straight year, undermining consumer spending which supports 60 percent of the economy. turkishpress.com