Japanese Gov't Retains Downward Judgment on Economy
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The finance ministry on Wednesday lowered its assessment of Japan's economy for a fifth consecutive quarter in the January-March period.
The ministry downgraded its judgment on the nation's economic conditions from "worsening" in the previous quarter to "worsening and becoming severe."
Sluggish consumer spending, shrinking output and worsening employment conditions were among the key factors contributing to the evaluation.
According to the quarterly survey released by the ministry, 43 of Japan's 47 prefectural economies got worse from the previous quarter.
The survey, based on assessments made by the ministry's 11 regional branches, also downgraded its evaluations for 10 of the nation's 11 regions.
(Xinhua News Agency April 22, 2009)