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LDP Kamei Says Japan Economy Still Severe - Kyodo


Thursday February 19, 2:30 am ET

TOKYO -(Dow Jones)- A senior member of the ruling Liberal Democratic Party ( LDP) said Thursday the economic situation in Japan remains severe despite strong gross domestic product (GDP) data for the October-December quarter, Kyodo News reported.

"You can't conclude that the economy is back on a self-sustaining recovery path," Shizuka Kamei, former chairman of the LDP Policy Research Council, told a meeting of a party faction that he leads, according to the report.

The government reported Wednesday the nation's GDP grew 1.7% in real terms in the October-December period from the previous quarter for an annualized growth of 7%.

Kamei said corporate restructuring brought about the economic expansion and small and medium-sized companies, small shops and households still face economic hardship.

 

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