JAPAN DATA: The Japanese government today maintained its overall
economic assessment after making the first downward revision in six
months in April. “The economy shows weakness recently, due to impact of
the Great East Japan Earthquake. It remains in a difficult situation,
with a high unemployment rate,” the government said in its monthly
economic report for May. It said in April, “Although the economy was
picking up, it shows weakness recently, due to impact of the Great East
Japan Earthquake. It remains in a difficult situation, with a high
unemployment rate.” Looking ahead, the government repeated, “As for
short-term prospects, weakness will continue for a while.” It added that
nuclear radiation leaks from the quake-hit Fukushima Daiichi nuclear
power plant in northeastern Japan remain as a downside risk to an
economic recovery.