2008.12.1601:44:00UTC+00Shirakawa Says Tankan Survey Points To Severe Economic Conditions

Tuesday, Bank of Japan Governor Masaaki Shirakawa said results of the December tankan survey indicate the domestic economy is in a severe condition.

Addressing the Upper House parliamentary committee, Shirakawa said BoJ's main scenario is an economic recovery in the second half of 2009. He noted that there are large amount of uncertainties surrounding the growth outlook. Hence, the central bank is focusing more on the downside risks, Shirakawa added.

Monday, results of the quarterly Tankan survey for December showed that Japanese large manufacturers sentiment dropped to 34-year low.

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