Record fall in output, rising unemployment, world’s second largest economy feels depression again
Audrey Keneonese
Dec. 26, 2008

Japanese slide in household spending remains unchecked. In addition, the government reported record fall in industrial output. Japanese unemployment continues to rise.

In November Japan experienced 8.1 per cent month-on-month decline in industrial output. Japanese household spending fell an inflation-adjusted 0.5 per cent year-on year, extending its eighth consecutive monthly contraction.

According economic think tanks, Japan econmy accelerated its slide in fourth quarter after it contracted in the second and third quarters of 2008.

Japan faces deflation and depression again. The intensity this time can be far greater than seen in the last twenty years.

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