News Headline Summary

Overnight, Japanese press reported that Japan is to downgrade its economic assessment in its upcoming monthly report

- The government is planning to downgrade its overall assessment of the Japanese economy for the fourth straight month in its report to be released Friday, sources close to the matter said Tuesday.

- The planned revision follows the annualized 3.5 percent decline in Japan's gross domestic product in the July-September period, marking the first contraction in three quarters, as exports fell amid the country's worsening ties with China.

- The downgrade would mark the longest losing streak since the assessment was lowered for five months from October 2008 through February 2009 amid the global financial crisis triggered by the bankruptcy of Lehman Brothers Holdings Inc.

Full article: http://english.kyodonews.jp/news/2012/11/193641.html

13 Nov 2012 - 18:05 - - Source: Kyodo

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