Financial Times FT.com

Japan close to declaring slip into recession

By David Pilling in Tokyo

Published: August 4 2008 03:00 | Last updated: August 4 2008 03:00

Japan's government may be forced to declare that the country has entered a technical recession, according to several economists, although any downturn is likely to be far shallower than previous contractions in 2001 and 1998.

A statement from the cabinet office saying that the economy was "deteriorating" would, in effect, declare an end to what has been the longest recovery since the second world war.

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