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Even if Improvement in the Economy Continues, the Pace Will Be Slow
(1)Current State of the Economy: Severe Conditions following the Consumption Tax Rate Hike
(2)A Recession Can Be Avoided, but the Risk of a Downturn Is Growing
(3)Outlook for Fiscal 2014 and Fiscal 2015: Recovery to Be Restrained to a Moderate Pace
(4)Trends in Overseas Economies