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Japan downgrades business conditions for 6th straight time

(Xinhua)
Updated: 2009-03-16 13:58

TOKYO -- Japanese government on Monday downgraded its assessment of the nation's business conditions for the sixth straight time since December 2007 as the ongoing financial crisis took a heavy toll on the world's second largest economy.

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In its latest report, the Ministry of Economy, Trade and Industry lowered the overall business trend to "receding" from the previously reported "weakening further" in December 2008 amid deteriorating production and employment situations.

In nine of Japan's 10 regions, business conditions were " receding" or "weakening further," said the ministry, adding that only the Okinawa region was labeled as "weakening."