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Japan's Furukawa: sees economic recovery continuing
October 17, 2011 / 7:06 AM / 6 years ago

Japan's Furukawa: sees economic recovery continuing

TOKYO, Oct 17 (Reuters) - Economics Minister Motohisa Furukawa said on Monday that he expects Japan’s economic recovery to continue although it faces several risks, including struggling overseas economies and a strong yen that is dragging down corporate revenue and exports.

“Output is continuing to recover,” Furukawa told a news conference after the government released its monthly economic report.

“I wouldn’t say the economy has hit a soft patch. The rebuilding of supply chains is likely to support the economy in the future while public spending related to reconstruction is likely to provide a solid boost. The economy’s recovery is expected to continue.”

The government downgraded its assessment of the economy in the October report for the first time in six months, saying slowing global growth was weighing on the pace of recovery in the nation’s factory output and exports.

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