Japan's business confidence plunges !
gabbana
- Posted:
4/6/2009
Business confidence among major manufacturers in Japan is at a record low, according to a wide-ranging survey by the central bank. Japan's economy is among the worst hit by the global economic crisis. Exports Japan has relied upon for growth have collapsed and unemployment has risen.
Results released by the Bank of Japan show that business confidence among major manufacturers tumbled dramatically, hitting the lowest level ever recorded.
Confidence in other sectors of the economy was also down sharply.
Japan is in its deepest economic crisis since World War II.
Exports nearly halved in February compared to the year before and many iconic companies are facing massive losses.
Consumers abroad fearful of losing their jobs are buying far fewer Japanese cars and electronic gadgets and other goods.
Unemployment has reached a three-year high.
Many of those still in work face shorter working hours, job-sharing and lower pay.
Comments
Be the first to comment on this blog post.
