Japanese economy ‘at standstill’

The Japanese economy is at a standstill, Japan’s government has said, as concerns about the strong yen continue to grow.

The recovery in the economy was “pausing”, the Cabinet Office said in a monthly statement.

It is the most negative the government has been about the economy in nearly two years.

The rising yen and a slowdown in global demand for Japanese exports was blamed for the downgrade.

In recent months, the government has insisted that the economy is “picking up”.

But it said it now expected the economy to remain weak for some time, with “weakening” exports a chief concern.

It said shipments to Asia in particular were becoming weaker, further hitting exporters that are already suffering from the strong yen.

http://www.bbc.co.uk/news/business-11571644

 

 

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