March 17, 2000

Monthly Economic Report for March

The Monthly Economic Report for March released today suggests that there are gradual signs of the economy moving toward a self-sustaining recovery. However, seeing that consumption still remains sluggish and the recent currency movement has been fluctuating, there is no room for undue optimism.

The automobile industry is aware that it is still too early to conclude that the industry has bottomed out of the recession on the mere evidence that car sales remained on an upward trend for two consecutive months since January of this year. The sales trend will therefore require some close watching in the months ahead.