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The ratings agency Standard & Poor's Corp.(S.& P.) lifted its outlook on Japan on March 24, 2004, saying that growth prospects have improved for the country, the world's second largest-economy. The improved outlook follows signs that Japan's two-year-old economic recovery is gaining momentum and widening beyond exports, so far the main factor powering growth. S.& P. raised the outlook for its rating on Japan's sovereign debt to stable from negative, citing the benefits of corporate restructuring and a decline in the bad loans held by bank which have weighed heavily on the economy.

A weak economy got a little lift Thursday with new data suggesting companies were not pursuing large layoffs. New applications for unemployment benefits declined for a second week after rising in the previous three. And more people signed contracts to buy homes. [ABSTRACT FROM AUTHOR]

Has Asia's economic recovery reached a turning point? Recent economic data, some unexpectedly good results from companies around the region, early signs of some new hiring, and a stock market rally that has defied most analysts' expectations would seem to indicate that perhaps it has. [ABSTRACT FROM PUBLISHER]

Reports that the economic recovery in Argentina has defied forecasts. Background on Argentina's economic collapse in December 2001; Details of the country's economic rebound; Economic indicators, including a stable currency; Investments; How the recovery has been achieved in part by ignoring and even defying economic and political orthodoxy; Role of the Peronist-led government in stimulating internal consumption; Views of analysts; Consumer behavior; Why traditional free-market economists remain skeptical of the government's approach; Outlook.

Focuses on Brazil's economy and the role of Antonio Palocci, the country's finance minister. Brazil's boom in exports and expected trade surplus this year; How the wave of economic good news has solidified Palocci's reputation as the most influential member of President Luiz Inácio Lula da Silva's cabinet; Ways that da Silva has sought to bolster Palocci's standing; Details of Brazil's rebound, which has been fueled by the global economy and a surge in prices for commodities; Comments of Palocci; Palocci's austere fiscal and monetary policies.

Reports that Brazil's President Luis Inácio Lula da Silva is sounding a cautious note despite signs of optimism in the country's economy. Better economic growth rate than expected and more recent indicators that the recovery is spreading to industrial production, capital goods spending and rising retail sales; Jobs outlook, which is on the mend but with less momentum than other indicators; Brazil's need to put in effect policies to attract foreign investment; Expectations of inflation and raises in interest rates.

Examines the stability of Japan's economic recovery in 2004. Basis of market analysts' uncertainty about the future economic prospects of the country; Contribution of China's economy to the Japanese economic expansion; Questions whether Japan can continue to grow based on domestic consumer-led demand.

Discusses campaign strategies of the Democrats in the 2004 presidential election, in light of a surge in the economy this past quarter. How the rapid change in the economic outlook is forcing Democratic candidates to alter their attack on President George W. Bush's economic record; Views of candidates on economic growth; Implications for Democrats if there is a sustained recovery; Public opinion regarding the economy; Challenges and opportunities facing Democrats.

Examines Russian President Vladimir V. Putin's plan to double the country's economy in a decade. Economic growth and foreign investment; Overview of the economy; Outlook for Russia joining the World Trade Organization in 2004; Public support for the pro-Western shift; Putin's state visit to Great Britain, which highlights British foreign investments in Russia; Concerns of analysts over Russia's overdependence on oil and gas income; Russia's monopolies; How changes in laws have created millions of landowners; Expansion of personal incomes.