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Japan Output Slumps for Fifth Month as Exports Tumble

Jason Clenfield Bloomberg 03/29/2009 12:38
Japan Output Slumps for Fifth Month as Exports Tumble - export - Japan


Japanese makers of cars and electronics slashed production a fifth month in February, the longest losing streak since 2001, adding to evidence that the recession is deepening.



Factory output fell 9.4 percent from January, when it plummeted a record 10.2 percent, the Trade Ministry said today in Tokyo. The median estimate of 26 economists surveyed by Bloomberg News was for a 9.1 percent drop.

An unprecedented drop in exports is putting pressure on the government to unveil measures that will prevent the slump from spreading to households. Prime Minister Taro Aso is preparing fresh spending in his third stimulus package since October.


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