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Japan's Industrial Production Decreases 8.5% in November

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Industrial output in Japan plunged 8.5 percent month-on-month on a seasonally adjusted basis in November 2008, compared with a preliminary 8.1 percent decline estimation, said the Ministry of Economy, Trade and Industry on Monday.

The index of production in mines and factories read 93.6, against the 2005 base of 100, said the ministry in a revised report.

It was the sharpest decrease in industrial production since February 1953, said the ministry, adding that steep output fall in export-oriented industries as well as poor performance in pharmaceutical and electronic device sectors were major factors behind the downturn.

(Xinhua News Agency January 19, 2009)