http://www.guardian.co.uk/business/2011/apr/28/japan-factory-output-consumer-spending-plummet?CMP=twt_gu
Extract
The government said on Thursday that industrial production had plunged 15.3% from February after the 11 March earthquake and tsunami devastated Japan's industrial north-east, crippled a nuclear power station that continues to leak radiation and caused widespread power shortages.
Factory production had been expected to fall sharply as a result, but the drop was worse than the forecast of an 11.4% decline in a Kyodo News survey of analysts.
Transport equipment recorded the sharpest production drop – a 46.4% decline – underscoring the north-east region's integral role in supplying Japan's auto industry with parts, graphics chips and other high-end components.
The Japan Automobile Manufacturers Association said vehicle production fell 57.3% in March from a year earlier to 404,039 vehicles.
Ministry officials said the March decline in the country's index of output at factories and mines was the greatest since record-keeping began in 1953. The previous largest decline was in February 2009, when the global financial crisis that had started a few months earlier dragged production down 8.6%.
Extract
The government said on Thursday that industrial production had plunged 15.3% from February after the 11 March earthquake and tsunami devastated Japan's industrial north-east, crippled a nuclear power station that continues to leak radiation and caused widespread power shortages.
Factory production had been expected to fall sharply as a result, but the drop was worse than the forecast of an 11.4% decline in a Kyodo News survey of analysts.
Transport equipment recorded the sharpest production drop – a 46.4% decline – underscoring the north-east region's integral role in supplying Japan's auto industry with parts, graphics chips and other high-end components.
The Japan Automobile Manufacturers Association said vehicle production fell 57.3% in March from a year earlier to 404,039 vehicles.
Ministry officials said the March decline in the country's index of output at factories and mines was the greatest since record-keeping began in 1953. The previous largest decline was in February 2009, when the global financial crisis that had started a few months earlier dragged production down 8.6%.
In another report on Thursday, the government's statistics bureau announced that consumer spending had also seen a record decline in March, falling 8.5% from a year earlier.
The previous sharpest decline in the numbers, which have been tracked since 1963, was a 7.2% dip in February 1974, soon after the 1970s oil shock helped trigger a worldwide stock market crash.
Kan has urged Japanese consumers to open their wallets to help spur the economy, stressing that the upcoming Golden Week holidays will be a particularly good opportunity to spend.
The government also reported that consumer prices declined for the 25th straight month. The key consumer prices index fell 0.1% as deflation continued to weigh on the economy.
No comments:
Post a Comment