YOKOHAMA (Kyodo) Economic growth has recently been slowing on sharp falls in domestic housing investment at a time when uncertainties surrounding the global economy are increasing, Bank of Japan Policy Board member Hidetoshi Kamezaki said Wednesday.
"Japan's economy basically continues to gradually expand, led by exports and capital spending, but favorable conditions in those sectors have not spilled over to private consumption, and the pace of growth has been slowing due partly to plunges in housing investment," Kamezaki told Yokohama business leaders.
He indicated that tightened regulations on construction to ensure building safety have led to declines in output of building materials such as cement.