• SHARE

In a monthly report released Friday, the Economic Planning Agency said that although the economy has stalled and business sentiment is dimming, the economy has not yet entered recession. In a retreat from the government’s long-held assessment of a mildly recovering recovery, the agency described the economy as being “at a standstill.”

“A stricter expression was used because the recovery seems to have temporarily stopped,” said Akira Furukawa, head of one of the body’s domestic research divisions during a briefing. “We cannot agree that the economy is in a recession,” he said. He indicated it may rise again.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW