Bank of Japan's headwinds complicate recovery
"Rather than accelerating, as Fukui expected, Japan's revival is losing speed. Japan grew an annualized 0.8 percent in the three months ended Sept. 30, less than the 2 percent shown in a preliminary report and the second-quarter's 1.1 growth rate," the article says.
The reason is simply that Japanese consumers aren't spending more, it says.
"With 2006 looking like anything but a good year for the BOJ, here are two suggestions for managing the world's second-largest economy in 2007. One, be patient. Two, stop talking."
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