Japan’s industry sector experienced an unexpected fall on retail sales which has not happened for the past two decades in April. As the pandemic affected both the domestic and foreign demand for the country’s autos and other manufactured goods.

The bad records suggest the recession seen in the world’s third-largest economy over the six months to March is likely to deepen in the current quarter as government necessitated lockdowns affected supply chains and kept consumers shut in at home.

The official data disclosed on Friday showed 9.1% dropped in the factory output in April from the previous month, this biggest drop is compared with the 2013 data released by automakers and iron and steel manufacturers that suffered sharp declines.

“Output will probably rise up from June onwards but it will be necessary to be watchful for a second wave (of coronavirus infections),” said chief economist at Norinchukin Research Institute,Takeshi Minami.

Auto-maker production dropped by a third from the previous month which led to the  to the downgrading of overall production to “decreasing rapidly” for the first time since November 2008, from just “decreasing” previously.

Auto production company, Nissan Motor Co. plans to slash production capacity and model range by about a fifth to help reduce costs by 300 billion yen ($2.79 billion), following reduction in sales, the automaker said on Thursday.

Different data showed retail sales tumbled at their fastest pace since March 1998 as the nationwide state of emergency led service-sector businesses such as restaurants to close.
Retail sales dropped by 13.7% in April from a year earlier, heavily weighed by slumping demand for general clothing, merchandise, and vehicles.

The gloomy data comes after Japan’s economy experience recession for the first time in 4-1/2 years in the first quarter.

This week, the government lifted the state of emergency and approved a second $1.1 trillion aid package, bringing the overall fund to save the economy from the virus pandemic to $2.2 trillion.

JOBLESS RATE EDGES UP

Japan was already trying to avoid slow demand before the outbreak after the government raised the nationwide sales tax to repair its public debt burden.

The largest component of the government’s new package introduced was a loans programme for smaller firms in immediate need of cash to keep the lights on.

Other government data on Friday showed conditions that’s unbearable in the jobs market, suggesting such help for small- and mid-sized firms remained much-needed to prevent further losses.
The rate of joblessness in April rose to 2.6%, its highest since 2017, although better than the rates in other developed nations, where unemployment is approaching depression-era levels.

However, economists say the official unemployment rate covers the full extent of the pain. Among those categorised as employed, those on vacation rose by 4.2 million in April, more than tripling from a year earlier.
While staff’s that were absent will eventually return to work, their addition in April’s unemployment rates would suggest a fall of 11.4%, Dai-ichi Life Research Institute said.

The number of non-regular workers posted the highest year-on-year drop on record. Job availability stumbled to 1.32, its lowest since March 2016.

Output data of the factory showed manufacturers surveyed by the government expect output to drop another 4.1% in May, followed by a 3.9% rise in June.

 

0

Player of the Bundesliga ‘found alive four years after his death’

In Germany, four years after his disappearance, former Schalke player Hiannick Kamba has reportedly been found alive and well. The right-back had been believed to have died in January 2016 in a car accident in his native country, Congo. The German publication, Bild now states, however, that Kamba-now aged 33-was spotted working in Ruhr. An […]
By : Toos | Nov 15, 2020
0

Coronavirus exacerbating ”disordered world” warns EU’s top diplomat

Europe’s foreign policy boss Josep Borrell has cautioned that the coronavirus could exacerbate an effectively ”confused world”. In a restrictive meeting with Euronews, which secured a large group of issues including the Covid-19 pandemic and the EU’s relationship with China and the US, Borrell required the development of another multilateral system. “Unmistakably the world request […]
By : Sampel | Nov 15, 2020
0

Trump: U.S. “terminating” relationship with World Health Organization

  On Friday, The President of the United States said he’s terminating the country’s relationship with the World Health Organization, claiming that China has dominance over it. President Trump announced he’s suspending the entry of certain Chinese Nationals and sanctioning their officials who have eroded Hong Kong’s freedom. President Trump for weeks has expressed frustration […]
By : Sampel | Nov 15, 2020
0

Latest: US warship again challenges China’s South China Sea claims

    Chinese is challenged by the US Navy, they challenge their claims in the South China Sea Thursday. Sailing the Arleigh Burke-class guided missile destroyer USS Mustin near the Paracel Islands. The US president who jokingly said that people should be able to inject themselves with disinfectant/detergents few weeks ago. The US Navy who […]
By : Sampel | Nov 15, 2020
0

Japan’s Factory, Retail Sectors Slump As Pandemic Hits Auto Sector

  Japan’s industry sector experienced an unexpected fall on retail sales which has not happened for the past two decades in April. As the pandemic affected both the domestic and foreign demand for the country’s autos and other manufactured goods. The bad records suggest the recession seen in the world’s third-largest economy over the six […]
By : Sampel | Nov 15, 2020
0

North Korea Lashes Out at U.S., Saying China Is Eclipsing It

North Korea Lashes Out at U.S., Saying China Is Eclipsing It North Korea lashes out at U.S saying china is eclipsing it. The attack on the United States comes as President Trump is in an increasingly bitter standoff with China, blaming it for the spread of the coronavirus and threatening action over its weakening of […]
By : Sampel | Nov 15, 2020
0

Zaha Hadid Architects Set to Design Shanghai’s ‘Greenest’ Building

  Zaha Hadid Architects Set to Design Shanghai’s ‘Greenest’ Building. Zaha Hadid, in full Dame Zaha Hadid, (born October 31, 1950, Baghdad, Iraq—died March 31, 2016, Miami, Florida, U.S.), Iraqi-born British architect known for her radical deconstructivist designs. Innovative buildings in China like Galaxy SOHO and the Guangzhou Opera House were designed by Zaha Hadid […]
By : Sampel | Nov 15, 2020
0

Prague erects replica of baroque Virgin Mary statue

Prague erects replica of baroque Virgin Mary statue The historic statue of the Virgin Mary in its original form  was tore down by revolutionary mob. However, it has been replaced with a replica in Prague. The statue which had been erected to celebrate the victory of pro-Catholic Habsburg forces in 1652 over Sweden in the […]
By : Sampel | Nov 15, 2020
0

Unknown Man Drove Over Protesters And Shot A Demonstrator

The recent happenings in the world for the past few weeks is no longer news especially in the United States due to the killings and absurd police brutalities against black communities which have been on the rise from the beginning of the year. The United States witnessed an uprise in protests against racism and police […]
By : Adejanto | Nov 15, 2020
0

Iran says it is ready for more prisoner exchanges with U.S.

According to the official IRNA news agency, Iran is  prepared for further exchange of prisoners with the United States said the spokesman for Foreign Ministry, Abbas Mousavi, on Sunday. The United  States is currently facing another devastating situation apart from the tragic occurrences caused by the pandemic due to the death of an African American […]
By : Sampel | Nov 15, 2020
0

Panama isolates migrants in remote jungle coronavirus unit

  About 200 migrants in a jungle camp has been isolated in Panama to contain the outbreak of coronavirus among a larger group of Cubans, Haitians and Africans stranded by the pandemic the region of Darien. Some migrants put on blue surgical face masks on, lay under tarps or in tents, enclosed in a chain […]
By : Sampel | Nov 15, 2020
0

Slovakia to allow travel from 16 more countries, ease mask rules

  On Tuesday, Prime Minister Igor Matovic said Slovakia will allow free travel to and from 16 more European countries starting from June 10 and no face masks longer require to be worn outside, as the country further eased its coronavirus lockdown. Visitors from Germany, Liechtenstein, Cyprus, Malta, Estonia, Switzerland, Slovenia, Croatia, Bulgaria, Greece, Latvia, […]
By : Sampel | Nov 15, 2020

Leave a Reply