Japan's January industrial production slumps by a record 10%

27 February 2009 11:21  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s industrial production shrank for the fourth consecutive month in January, falling a record 10% from December, reflecting the havoc being wreaked by the global demand slump on Asia’s biggest economy, according to offical figures on Friday. 

Compared to the same period last year, the country’s manufacturing output declined 30.8%, data from Japan’s Ministry of Economy, Trade and Industry (METI) showed.

Japan recorded its biggest trade deficit on record at yen (Y) 952.58bn ($9.7bn) last month as exports plummeted 45.7% year-on-year.

($1 = Y98.37)

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