Richard Jerram
Richard Jerram
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I think the real question is whether growth in 2001 is positive or negative. And the way things are going, it's looking increasingly likely there's going to be a negative number.
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The main question is when are they going to start to raise interest rates.
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It has always worked in the past. It's always been a turning point in the economy when measures have been taken to bail out the financial system.
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Japan is forecast to be the fastest-growing G7 economy over the next two years. The biggest contribution to growth is coming from private sector demand.
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Overall, we feel that views on the economy have probably become excessively negative in recent months on the basis of the performance of two economic indicators: exports and industrial production.
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It is difficult to find any part of the economic puzzle that would lead you to be less confident about the full-year 2006 outlook than you were six months ago.
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Some people are thinking that is a little bit too small to get the banking system back on its feet.
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We think the U.S. could expand by around 3% while Japan's economy could grow somewhere between 3.5% and 4%.
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Three months ago, the debate was whether the economy was still declining or going sideways. Now the debate is whether the economy is going sideways or whether it is improving.
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We're seeing an improvement in output, which seems to be driven by both the export side and the domestic demand side, and we're seeing a gradual diminution of deflation.
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He doesn't really have an economic reform policy. He's not really about to get tough in the economic sphere,
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We woke up and America was down pretty hard. Then we had a fairly big construction company go bust.
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We see the domestic revival as steadily broadening out and in the end that should start to drive production.
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Exports seem to be stalling and there are some signs this is already being felt by industrial production,