Output from Japan’s factories saw their biggest monthly drop ever in October, the country’s Ministry of Economy, Trade and Industry reported earlier today. Output was down 8.1 percent over the year before in October, nearly double the previous record of 4.3 percent in January 2001 and the Ministry expects a similar drop for December factory output.
The 8.1 percent drop was lower than analysts have figured, signaling the strength of the global economic decline.
The figures include everything produced in Japan, from textiles to electronics to automobiles, though export and sales figures show that the figures are representative of car production, as well.
The world’s second largest economy, after the United States, is eroding due in part to shriveling overseas earnings.
