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BOJ says recovery uncertain, but signs positive

Date Posted: 1999-04-24

The Japanese economy is showing both negative and positive signs, but it is still too early to determine whether the economy is gearing for a self-sustainable recovery, Bank of Japan Governor Masaru Hayami said during a Monday meeting with BOJ branch managers, NHK television reported.

It does appear, however, the decline in the economy is virtually at a standstill, BOJ branch managers agreed.

BOJ branch managers cited a rise in public and housing investments, a direct result of the government's stimulus package, as one reason why the economy is showing positive signs.

On the negative side, unemployment remains at record levels, and as corporate earnings continue to decline, further job losses are almost certain.

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