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14 June 2001 11:16  Shiokawa forecasts recession


Japanese Finance Minister Masajuro Shiokawa reportedly said he sees Japan's Q2 GDP worse than Q1. The comment came as no great surprise, as it is a repeat of comments made last week. However, last weeks comments were made before the release of data Monday showing the economy had contracted by 0.2% in Q1, So, by default, Shiokawa is accepting that Japan will move into technical recession as he sees negative Q2 growth as well
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