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Friday, 21st December 2012
In General Japan News,

Japanese economy may be stabilising, figures suggest

Although it stops short of promising a booming economy, the latest government report into the country's financial affairs suggests that despite being weak, the country's condition has stabilised.

Talking to reporters, a Cabinet Office official even suggested that there is some room for optimism, but he tempered his comments with a feeling that realism must prevail.

The official said: "There are some bright spots here and there, but overall, the economy remains weak.

"Companies, especially manufacturers, continue to operate in a tough environment and their profits are sluggish, with a drop in exports weighing on production and business sentiment."

The soon-to-be newly appointed Prime Minister Shinzo Abe has put pressure on the banks to take action to combat deflation and this has resulted in yet another round of monetary stimulus.

Another of incoming Prime Minister Abe's strategy's for bolstering the economy is to get rid of debt limitations put on public spending by the previous government as he looks to boost spending on public works projects.

The report comes in the wake of announcements of losses in exports by companies such as Mitsubishi.

Today (December 21st), the company announced that total exports from Japan in November this year reached 24,277 units which represented a 25.1 per cent fall compared to the same time period in 2011.