Friday, 30th July 2010
In Business In Japan,
Japanese economy under pressure once again
New figures released in Japan today (July 30th) have shown that unemployment has risen in the country and production has fallen.
A rise in the number of people out of work was unexpected and has sparked fresh fears of a double dip recession in Japan, which is also facing an ongoing struggle with deflation levels.
The fall in factory output was the biggest seen in over a year and there are worries that the production could drop ever further.
Japanese exports are also feeling the impact of an extremely strong yen, which is making many overseas investors and firms steer clear of buying Japanese-made products.
The nation's political landscape has also recently changed with the appointment of Naoto Kan as prime minister. The former finance minister has expressed support for a weakened yen and made several stark warnings over the state of the Japanese economy - however, many feel his warnings are over the top, despite the nation's money woes.
Written by Kimberley Homer.