Japan's business bosses say expansion already over

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TOKYO, June 22 (AFP): The majority of Japan's top executives have said an expanding phase of the nation's economy has already been over, a poll showed today.

The Asahi Shimbun daily carried out its latest biannual survey between May 29 and June 12, covering presidents and top executives of Japan's major 100 companies.

According to the poll, 53 companies said "the present economic expansion has already finished," sharply up from only seven firms saying so in the previous survey in November.

Ten companies said the economy will continue expanding until this summer, while 32 replied the expansion phase will last until late this year or even next year, the survey showed.