Worse news possible ahead, as industry may shrink to 1980s levels
Japan's industrial output slumped by a record margin in December, indicating companies are likely to idle more production lines and unveil additional lay-offs, setting the stage for what may likely be the harshest recession since the end of World War II.
The Japanese government said production fell a seasonally adjusted 9.6% in December compared to November, breaking the previous month's record decline of 8.5%. Economists had expected a drop of 9%
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