Japanese Industrial Output Down to Levels Seen 5 Years Ago

As we reported last month, Japan's industrial output has been hurt significantly by the global slowdown. In November, it only got worse. Marketwatch reports:

Industrial production fell as much as 8.1% in November from the previous month -- the biggest drop in the measure since the government started releasing comparable figures in 1953 -- as Japanese companies produced less automobiles and other machinery on vanishing demand.

Overall industrial output at a levels from 5+ years ago in a matter of months... yikes.

Source: METI