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Economy in Brief

Japan Manufacturing Collapses
by Robert Brusca December 30, 2008

Japan ’s Industrial output fell sharply in November. The 8.1% drop has driven the three-month growth rate to -24% at an annual rate. Declines sweep across the various categories. Transportation is down especially sharply given the trouble in the worldwide auto market.

In the quarter–to-date IP is falling at a 31% annual rate; transportation at a 52% annual rate.

Japan Industrial Production Trends
  m/m % Saar % Yr/Yr Qtr-2-Date
seas adjusted Nov-08 Oct-08 Sep-08 3-mo 6-mo 12-mo Yr-Ago % AR
Mining & Manufacturing -8.1% -3.1% 1.1% -34.5% -26.0% -13.3% 2.0% -31.3%
Total Industry -7.5% -3.4% 1.1% -33.4% -25.3% -12.8% 1.9% -31.2%
MFG -8.1% -3.2% 1.1% -34.5% -26.0% -13.3% 2.0% -31.4%
Textiles -0.9% -0.2% -0.9% -7.7% -12.7% -9.8% -6.9% -6.3%
T-port -14.2% -7.4% 4.8% -51.9% -45.0% -21.9% 5.4% -52.4%
Product Group
Consumer Goods -5.3% -2.2% -0.2% -27.0% -19.5% -7.9% 0.5% -25.7%
Intermediate Goods -8.1% -4.7% 0.7% -39.3% -26.8% -14.7% 4.2% -35.7%
Investment Goods -9.7% -2.6% 4.6% -28.7% -29.2% -15.7% -1.8% -26.8%
Mining 7.6% -7.5% -4.4% -18.1% 5.2% -4.0% 6.5% -27.0%
Electricity & Gas 0.1% 1.4% 2.3% 16.0% -3.2% -1.3% 2.6% 1.0%
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