Japan's industrial output nosedive 9.6% in December

Special Report:Global Financial Crisis

TOKYO, Jan. 30 (Chinese media) -- Japan's industrial output plummeted at the

fastest pace on record in December as global recession deepens and the country's

export suffered serious losses.

The 9.6-percent fall was the second decline for two straight months,

following a revised 8.5 percent fall in November. It is the steepest monthly

fall since February 1953, when comparable figures first became available.

Japanese Economic and Fiscal Policy Minister Kaoru Yosano said it was

"impossible to predict" when the Japanese economy would bottom out.

In the October-December period, output dropped 11.9 percent from the

previous quarter, experiencing a fourth straight quarterly shrinkage for the

first time since 2001.

On Thursday, major exporters including Sony, Toshiba, and NEC Electronics

all reported miserable earnings and intensely gloomy outlooks. Manufacturers

such as Toyota also announced a series of plans to cut production and costs.