(RTTNews) - Economic activity in Japan has become increasingly sluggish recently, Bank of Japan governor Masaaki Shirakawa said Monday.

Speaking at a special meeting hosted by the Kyushu Association of Corporate Executives in Fukuoka Shirakawa said, “The slowdown in overseas economies has become pronounced as strains in global financial markets and in the U.S. and European financial systems have intensified since this summer, and reflecting this, growth in Japan’s exports turned negative.”

The pace of the recent increase in the sluggishness of Japan’s economy has been rapid, and overseas economies are also undergoing a similar drastic change, Shirakawa added.

Further, he noted that the bankruptcy filing of Lehman Brothers have drastic impacts on Japanese financial markets, which were stable relative to those in the United States and Europe.

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Posted in Categories: Economy, Eurozone, Japan, Releases, USA.

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