Japan & #39;s postwar economic recovery stalls

Japan's postwar economic recovery stalls Japan's longest sustained economic expansion since World War II appears to have ended, a government report says, amid growing fears of a recession in Asia's largest economy. "The economy is weakening recently," the government said, dropping the word "recovery" from its assessment for the first time in four years and eight months. "Depending on developments in the US economy, global stock and currency markets, as well as oil prices, the economy has a risk of weakening further," the report added. "It is possible that the economy may already be in a recession," a Cabinet Office official told reporters on Thursday. "Employment and income growth are in a weak phase. Since prices are rising and consumer confidence is worsening, a pickup in personal spending is unlikely for the time being,"... [read full story]