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(ICIS) -- Japan's industrial production
slumped in March, shrinking a record 15.3% from February, indicating a severe
economic damage wrought by the massive earthquake and tsunami that hit the
northeastern part of the country last month, official data showed on
Thursday.
Compared with the same period last year, March production fell 12.9%.
Transport equipment, general machinery and chemicals productions were among the
worst hit, according to preliminary data from Japan's Ministry of Economy, Trade
and Industry (METI).
Japanese industries are grappling with rolling blackouts that prevent
normal operations, including those of the petrochemical sector, following the 11
March disasters.
But METI expects an improvement in production in April and May, with the
growth forecast for each month at 3.9% and 2.7%, respectively.
mrcplast.com
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