Japanese business, says the government in Tokyo, is now in a "mild recessionary cycle." Why? Because the growth of the economy has dropped below a 10% annual rate for the first time in five years. Final figures for fiscal 1970, which ended last March 31, show that Japan's real gross national product that is, G.N.P. adjusted to eliminate the effects of price increases rose 9.9% v. a 12.6% gain the year before.
The U.S. should have such a "recession." Its real G.N.P. went down .4% in 1970, and many economists expect a rise of only 3% or so this year.
...
To continue reading:
or
Log-In
