Japan says economy slowly recovering
AFP, Tokyo
The government said Wednesday the Japanese economy was recovering but at a slow pace given some soft patches, leaving its assessment unchanged for a third straight month. In its monthly report for March, the government said the economy was still struggling to regain momentum. "The economy is recovering at a moderate pace while some weak movements continue to be seen," the report said. The government said the economy would be supported by the global economic recovery but repeated that inventory adjustment in the technology sector and rising oil prices could pose a threat. The government said Monday fourth quarter 2004 gross domestic product grew 0.1 percent from the three months to September, an upward revision to an initial estimate that the economy contracted 0.1 percent.
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