OTHER NEWS - April 7, 1994

Japanese Official Sees End of Recession: In the most authoritative official statement yet that Japan’s economic outlook is improving, Bank of Japan Governor Yasushi Mieno said Japan’s worst postwar recession appears to be drawing to a close. “The economy is brighter,” Mieno said after conclusion of a three-day conference of the bank’s branch managers. Participants in the meeting confirmed evidence of improved corporate sentiment and recovery in personal consumption, he said. Mieno warned, however, that the economy is still in the process of bottoming out and that a quick recovery is not assured. He cited the strong yen and trade frictions as factors that could cut off any recovery.