一自1986年11月开始的“平成景气”,在经历了长达4年多的高涨期后,已于去年宣告结束。目前日本经济学界对这次经济周期“高点”的确切时间,意见尚不一致,较为普遍的看法是1991年3月。也就是说,从去年第2季度起,日本经济即已进入衰退阶段。首先从景气动向指数(DI指数)看,先行指数自1990年9月降至50%以下,到今后1月已连续17个月低于 The “prosperity of the Heung Shing,” which started in November 1986, ended its last year after experiencing a period of more than four years. At present, the opinion of the Japanese economists on the exact time of the “high point” of the economic cycle is still not consistent. The most common view was that in March 1991. In other words, starting from the second quarter of last year, the Japanese economy has entered a recession phase. First of all, from the sentiment index (DI index), the lead index has dropped below 50% from September 1990 and has been below the level of 17 months for the forthcoming January