Though there is talk that the U.S. and Europe are emerging from the recession, Japan certainly has not yet gotten over it. Japan, with the world’s second largest economy, saw exports slump once again in May, falling 40.9% YOY, even more than April’s 39.1% decline. This was worse than the expected 39.3% fall as consumers overseas continued to buy fewer cars, electronics and semiconductors.
Japan’s economy shrank 14.2% in Q01 2009, its worst quarterly contraction ever, and unfortunately it’s not looking like a very promising second quarter either.
Post a Comment