Takenaka: Japan economy in minor adjustment phase

Heizo Takenaka, Japan's Minister for Economic and Fiscal Policy, said on Tuesday 12 October that Japan's economic growth rate has slowed because the economy has entered an adjustment phase following strong growth in the last quarter of 2003.

"As recent economic data point to a slowdown in growth, I now understand that the Japanese economy is undergoing a minor adjustment, but it remains in an uptrend as a whole," Takenaka said, speaking at a regular Tuesday morning press conference.

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