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Government data showed Japan’s industrial output fell 7.5% last month, the biggest drop since the outbreak began, deepening pessimism after falling into recession at the end of 2023.
Production fell sharply due to the fallout from the earthquake and car scandals, damaging several industries. The government allocated US$1.7 billion to rebuild earthquake-stricken areas. The data could prompt the Bank of Japan to pause tapering its monetary easing policy as the economic outlook is fragile.
The economy shrank by 0.1% month-on-month in the last three months of 2023, marking a technical recession.
(Source: manilatimes Image source: freepik)
