Japan's Nakamura expects further US housing woe

Seiji Nakamura, a member of the Bank of Japan's rate-setting board, has said that the chances of economic slowdown in the United States are rising as the subprime market slumps further.

``Housing investment continues to decline and consumer sentiment-related indicators are worsening because of the subprime mortgage problem,'' Nakamura said on Thursday.

Toshihiko Fukui, the governor of the Bank of Japan, had said in a speech that followed this month's rate hold that he thought housing conditio