Japan govt to downgrade economic assessment: report

Japan’s government is preparing to downgrade its monthly assessment of the economy due to weakness in factory output and consumer spending, the Nikkei newspaper reported on Wednesday. That would mark the fourth consecutive month of downgrades, the Nikkei said, as Europe’s debt crisis and a slowdown in China’s economy push Japan to the brink of recession.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1082129/japan-govt-downgrade-economic-assessment-report