Japan’s industrial production sinks by 9.4 percent

March 30th, 2009 - 12:23 pm ICT by IANS  

Tokyo, March 30 (DPA) Japan’s industrial production sank 9.4 percent in February compared to the previous month, the government said Monday, citing seasonally-adjusted data.
The drop in the previous month was 10 percent.

Because of the recession in the US and Europe and China’s lagging economy, the demand for Japanese cars, electronics and other export goods has dropped drastically.

Large firms like Toyota and Sony have screwed back production and eliminated thousands of jobs.

Tags: , , , , , , , , , , , , ,

Posted in Business |