41.   The official also said that the downward revision did not alter the outlook for the March quarter which was still one of gradual recovery.

42.   The Tankan is expected to support that view of gradual economic recovery, which would oblige the Bank of Japan to leave interest rates unchanged, Okuda said.

43.   Mitsuzuka told reporters the stock market had failed to reflect the gradual recovery of the economy.

44.   Most regions in eastern Japan, however, reported a gradual economic recovery.

45.   Nagoya branch manager Yoshiharu Obata said the economy in central Japan had retained its gradual recovery while signalling firm private-sector demand.

46.   The agency said the basic trend of the indexes reflected a gradual economic recovery.

47.   Tanaka said the gradual recovery was likely to continue throughout the year, supported by a government package against the appreciation of the yen and other measures.

48.   The agency has since kept saying the economy was on a gradual recovery course.

49.   The agency said the basic trend of the indexes reflects a gradual economic recovery.

50.   The bank said that although corporate capital spending is expected to maintain its gradual recovery trend, most companies were likely to remain cautious in their spending.