Japanese government expects economic shutdown


TOKYO – The Japanese government has revised her judgement of the economic situation for the first time since February, 2009 down. The rising exchange rate of the yen and lower exports could endanger the weak economic rest, writes the government in her monthly economic situation report published on Tuesday. One expects an economic shutdown.

Before the government in spite of difficult circumstances had still gone out from economic rest. Now, however, she sees the danger that the economy could be further loaded by an assuagement of the world economy and exchange rate movements. The business development seems to have ground to a halt. Therefore, Japan is in a mild deflationary phase

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