A preliminary report by the Cabinet Office announced on November 14, 2003, revealed that the real GDP of the Japanese economy has grown for seven consecutive quarters. The main factors are believed to be the increase in external demands (exports minus imports) and equipment investment. In particular, increased export to China and other Asian countries boosted net exports, while equipment investments are making a rapid recovery in strong export industries (electric machinery, machinery and others). Despite these positive economic indicators, there are still some concerns for the Japanese economy that leave a sense of uncertainty for the future. The first concern is the "strong yen" in a business recovery phase led by external demands.
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