Japan production at 5 decade low
The industrial production of Japan in November 2008 recorded a steep 8% decline, which is the steepest decline in more than four decades. This was primarily due to the crashing exports and also falling sales of automobile and electronic items domestically. The senior government officials are expecting worse numbers for December and January since there are no signs of any recovery in the near future. The only solace is that the crashing crude oil prices , which are at four year low, can help in faster recovery of economic numbers at least by second quarter of 2008.