Japanese economy at standstill, yen at 15 year high vs US dollar

.

• 10/19, BBC: "Japanese economy at a standstill"

"The Japanese economy is at a standstill, Japan's government has said, as concerns about the strong yen continue to grow.

• The recovery in the economy was "pausing", the Cabinet Office said in a monthly statement.

It is the most negative the government has been about the economy in nearly two years.

• The rising yen and a slowdown in global demand for Japanese exports was blamed for the downgrade.

In recent months, the government has insisted that the economy is "picking up".

But it said it now expected the economy to remain weak for some time, with "weakening" exports a chief concern.

It said shipments to Asia in particular were becoming weaker, further hitting exporters that are already suffering from the strong yen.

• Recession 'possible'

The yen remains near a 15-year high against the US dollar, despite the finance ministry's decision to intervene in the currency markets last month for the first time in six years."...

.

Reuters photo from BBC article