ID :
14392
Wed, 07/30/2008 - 13:37
Auther :
Shortlink :
http://m.oananews.org//node/14392
The shortlink copeid
Economic Assessments Downgraded for 5 Japanese Regions
Tokyo, July 30 (Jiji Press)--Japan's Finance Ministry on Wednesday downgraded its economic assessments for five of the nation's 11 regions, citing fallout from a surge in crude oil prices and a slump in exports stemming from a U.S. economic slowdown.
The assessments are based on reports for April-June submitted bythe ministry's local finance bureau chiefs.
Among the five, the Tokai central Japan region saw its economicexpansion stalled due to a decrease in motorcycle exports.
The northernmost island of Hokkaido reported that consumer spending on clothing is sluggish as rising fuel and food prices are making consumerscautious about spending money.
Of the nation's 47 prefectures, economic assessments weredowngraded for a record 35 prefectures.
The ministry downgraded its assessment of the Japanese economy as a whole for the second straight quarter, saying that economic activity is at astandstill with weakness seen in some regions.
The assessments are based on reports for April-June submitted bythe ministry's local finance bureau chiefs.
Among the five, the Tokai central Japan region saw its economicexpansion stalled due to a decrease in motorcycle exports.
The northernmost island of Hokkaido reported that consumer spending on clothing is sluggish as rising fuel and food prices are making consumerscautious about spending money.
Of the nation's 47 prefectures, economic assessments weredowngraded for a record 35 prefectures.
The ministry downgraded its assessment of the Japanese economy as a whole for the second straight quarter, saying that economic activity is at astandstill with weakness seen in some regions.
