Japanese exports continue their nosedive
Bloomberg: Japan Exports Plummet Record 35%, Signaling Job Cuts
Japan’s exports plunged by a record in December, signaling companies will be forced to shut factory lines and fire more workers, driving the economy deeper into recession...
Shipments to the U.S., China and Europe plunged the most ever, as the global recession dried up demand for Japanese cars and electronics. Toyota Motor Corp., Sony Corp. and Honda Motor Co. are shedding thousands of workers and closing production lines as profits and sales dwindle.
“This recession will be deep and widespread,” said Kyohei Morita, chief Japan economist at Barclays Capital in Tokyo...
Japan’s exports plunged by a record in December, signaling companies will be forced to shut factory lines and fire more workers, driving the economy deeper into recession...
Shipments to the U.S., China and Europe plunged the most ever, as the global recession dried up demand for Japanese cars and electronics. Toyota Motor Corp., Sony Corp. and Honda Motor Co. are shedding thousands of workers and closing production lines as profits and sales dwindle.
“This recession will be deep and widespread,” said Kyohei Morita, chief Japan economist at Barclays Capital in Tokyo...