TOKYO (MNI) – Japan’s Cabinet Office said on its website on Tuesday
that it now plans to release the government’s monthly economic report on
Wednesday, March 23, but that the time for release is not yet set.
The report was originally scheduled for release last Friday, but
has been postponed in the wake of the deadly earthquake and tsunami that
hit Japan’s northeast Pacific coast on March 11.
The government is gathering information to determine the degree of
the damage to the areas directly hit by the violent quake and high waves
while trying to assess the overall impact on Japan’s fragile economic
recovery.
The disaster, which has been complicated by Japan’s worst nuclear
radiation crisis, has caused wide-spread disruptions in factory
production and shipments. It is also expected to hurt business and
consumer sentiment.
Japan is trying to contain radioactive leaks at the Fukushima
Daiichi nuclear power plant where the cooling systems have been damaged
by the quake with a magnitude of 9.0 and tsunami waves as high as 14
meters. This has caused fears of a meltdown of overheated fuel rods. .
About 200 kilometers southwest of the plant, Tokyo and other big
cities rely heavily on power supply from Fukushima.
Last month the government upgraded its overall assessment of the
economy for the second straight month, saying it is set to recover on
brighter prospects for production and exports, overcoming a temporary
dip in demand.
tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **
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