29 Dec 2011

Japanese industrial production down

7:33 am on 29 December 2011

Japan's industrial production fell in November, pulled down by a strong yen, weak global demand and the flooding in Thailand.

The BBC reports the flooding, the worst in 70 years, forced a number of companies to shut their factories there. It also affected their suppliers.

The Ministry of Economy, Trade and Industry said production fell 4% from the same month a year earlier.

Earlier, Japan said it expected the economy to shrink by 0.1% this year, down from a previous forecast of 0.5% growth.

However, analysts said factory output is likely to rebound in coming months.