Japan: 40-50% Chance of Impending Recession - Report

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The odds of a Japanese recession in coming months are 40-50%, according to Credit Suisse analysts. Weak construction starts, falling employment levels, and slowing exports continue to weigh on the country's economy, it said. Business confidence has been eroding for the past year. "The current predicament of the Japanese economy appears to go beyond what could be reasonably be described as a 'soft patch'," Credit Suisse's Japan Economics Weekly said. However, it noted, business sentiment is not yet at the lows seen during 1997 and 2001 recessions.

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