Japan Warns on Strong Yen as Growth Outlook Downgraded

“Japan lowered the assessment for its economy, the first consecutive downgrade since the waning of the global credit crunch in 2009, fueling concern the world’s third-largest economy will contract this quarter.

Japan’s “recovery appears to be pausing due to deceleration of the world economy,” the Cabinet Office said in a monthly report released in Tokyo today. “Private consumption is almost flat,” while industrial production and exports are weakening, it said.”

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