OTHER NEWS - July 12, 1995

Japan Says Economic Recovery Has Stalled: In its latest report on the state of the economy, the government’s Economic Planning Agency dropped its usual reference to continuing recovery, replacing those words with a gloomier assessment. “The recent moderate recovery trend appears to be at a standstill,” it said. Hit by a strong yen and sluggish exports, the economy has struggled to recover from the recession that followed the collapse of the 1980s “bubble” of high stock and land prices. It is the first time Japan has admitted its recovery has stalled since the economy hit bottom in October, 1993. Economic ministers said efforts would be made to pull the economy back on track but offered no fresh policy suggestions.