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Japanese Leading Index Slips to Six Year Low, Fueling Recessionary Concerns
Tuesday, 07 October 2008 05:34:42 GMT  |  David Song, Currency Analyst
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The leading index for Japan fell to a six year low of 89.3 from 91.4 in July, indicating that economic activity has deteriorated considerable since the first half of the year. Furthermore, the coincident index fell in line with expectations as the index slipped to 100.7 from 103.5, which suggests that economic activity may deteriorate further as the world’s second largest economy teeters on the brink of a recession. Indeed, the Bank of Japan decided to hold their benchmark rate steady at 0.50% as widely expected, and noted that the economy may have slipped into a recession for the first time in six years.

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