Leaders of Japan's three major business lobbies were upbeat Friday about the country's economic prospects for 2007, saying the economy is likely to grow 2 percent this year on the back of a strong recovery in the business sector.
"The first half of the year may be slow due to a slowdown in the U.S. economy, but the latter half will be better," said Fujio Mitarai, head of the Japan Business Federation (Nippon Keidanren). "Japan can achieve a growth rate of about 2 percent."
Mitarai also said the 225-issue Nikkei stock average may top 20,000 by the end of the year, reflecting Japan's brisk economy.