
Japanese economy may catch the bug, literally
The Economic Times, Feb 01, 2005 11:10:06 PM
The Japanese economy has long seemed allergic to growth. For more than a decade, every brief rebound has been followed by a negative reaction and a rash of pessimism.
Now, with growth slowing again after a three-year spurt, allergies may weaken the economy once more %u2014 this time, literally.
This week, the Dai-Ichi Life Research Institute estimated that exceptionally high pollen levels from cedar and cypress trees will knock 0.6% off this quarte's GDP.
The think-tank estimates that reductions in spending on travel and other forms of leisure will more than offset increased sales of face masks, air cleaners, antihistamines and other remedies.
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