Japan industrial production unexpectedly rose in February, another sign that the economy was recovering before the nation's strongest earthquake. This month, the closure of factories was by power outages. Industrial production rose a 0.4 per cent since January, a profit for the fourth consecutive time, said today in Tokyo, the Ministry of Commerce. The estimated average of 24 economists surveyed by Bloomberg News, was a decline of 0.1 per cent.
The Nikkei 225 (NKY) has dropped about 9 percent, from March 11, day of disaster. The fall was due to the inability of the Government to put an end to leaks of radiation in a nuclear power plant, and the concern of the nation will be plunged back into a recession. The unemployment rate was reduced by more than a year in February, and the Tankan Bank, of Japan, may show this week that the companies were optimistic about the economy, before the earthquake that killed more than 11,000 people.
"Until February saw the production which was recovered and the economy was in a way to export-led recovery", said Hiroshi Shiraishi, Economist at BNP Paribas in Tokyo. "But the disaster has changed everything and the economy is facing tremendous supply-side constraints, now."
Japanese shares rose a 0.4 per cent, to 9.498,62, at 9: 58 in Tokyo, in global growth, will increase the income of the speculation. The yen was trading at 82,47 against the dollar, and has weakened more than 5 per cent at the beginning of this month. Goldman Sachs Group Inc., said this week that the gross domestic product of Japan, will shrink next quarter, and reduced its growth forecast for the April 1, to 0.7 per cent, from 1.3 per cent.
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