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Japan Economy Took Bigger Hit in March Than Estimated

Kamis, 28 Apr 2011, 00:00:23
Japan’s economy had a bigger hit from last month’s disaster than anticipated, with factory output falling the most since at least the end of the U.S. occupation, underscoring calls for the central bank to add stimulus.

Factory output dropped a record 15.3 percent from February and household spending plunged 8.5 percent from a year earlier, government reports showed today. Retail sales fell the most in 13 years, according to data released yesterday.

The government last month estimated that damage from the disaster, which left some 26,000 people dead or missing, at as high as 25 trillion yen ($306 billion). The economy may contract 3 percent in April-to-June, according to the median of 18 estimates in a Bloomberg News survey this month.

For complete news see:
To contact the reporter on this story: Keiko Ujikane in Tokyo at kujikane@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net
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