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Bank of Japan sees an end to recession
16.06.09
The race is on to see which major industrial economy exits the recession first as Japan joined the UK in publishing potential "green shoot" data.
The Bank of Japan today upgraded its economic assessment for the Japanese economy for the second month running.
The data indicate improvements in exports and output, fuelling hopes that the worst of the recession is over.
In a statement the central bank said: "Japan's economic conditions, after deteriorating significantly, have begun to stop worsening."
Last month, the BoJ had said things were still worsening but that exports and output appeared to be bottoming out.
Japan is the world's second-largest economy and its fortunes will be seen as a bellwether of the recession's effects. Last week, industrial, housing and construction data pointed to an improving position in the UK.
