TOKYO: The six-year sun of growth and prosperity beneath which the globe's second largest economy basked for six halcyon years has sunk below the horizon.
Or in less lurid prose, the Japanese Cabinet Office this week downgraded its assessment of national economic conditions, effectively conceding that the nation's uninterrupted GDP expansion since February 2002 – a postwar record – has ended.
Released Wednesday, the report described the economy as "worsening," citing the continued slump in the Coincident Index, which is based on production activities.
This registered a reading of 101.7 against a base average of 100 in 2005, down 1.6 points from May.
Data sourced from The Asahi Shimbun (Japan); additional content by WARC staff