Japan to downgrade economic assessment in Nov: Nikkei
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Japan's government is preparing to downgrade its monthly assessment of the economy due to weakness in factory output and consumer spending, the Nikkei newspaper reported on Wednesday. -- PHOTO: REUTERS
TOKYO (REUTERS) - Japan's government is preparing to downgrade its monthly assessment of the economy due to weakness in factory output and consumer spending, the Nikkei newspaper reported on Wednesday.
That would mark the fourth consecutive month of downgrades, the Nikkei said, as Europe's debt crisis and a slowdown in China's economy push Japan to the brink of recession.
The government is scheduled to release its monthly assessment of the economy on November 16.
Declining exports and a drop-off in consumer spending following the expiration of subsidies on energy-efficient cars are the main reasons for the downgrade, the Nikkei said, without citing sources.
