This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Japan Industrial Production Up 2.5 Percent In Dec.

Challenged by opposition lawmakers to explain how Japan can afford to boost spending when its national debt is already twice the size of the economy, Abe insisted his plan would balance the national budget by 2020. He also defended his administration's reliance on public works projects.

"I intend to have a deep discussion of the plans and seek public understanding to ensure transparency," Abe said during the televised legislative exchange.

Higher tax revenues are expected to help offset some of the increased spending: Earlier this week the government raised its forecast for economic growth in the fiscal year that starts April 1 to 2.5 percent from 1.7 percent.

While higher government spending can boost demand in the short run, growth can only be sustained through corporate investment, job creation and rising purchasing power.

Figures released by the Ministry of Health, Labor and Welfare on Thursday, however, showed average monthly wages, including overtime and bonuses falling to 314,236 yen ($3,453), the lowest level since such data became available in 1990.

The ministry, which based the data on a survey of 33,000 companies, attributed the drop to the rising use of part-time or temporary workers, who accounted for nearly 29 percent of all workers in 2012.

December's increase in industrial output compared with a month-on-month drop of 1.4 percent in November. Most analysts had forecast an improvement of more than 4 percent in December.

METI said inventories fell 1.1 percent from the month before while shipments rose 4.4 percent.

___

Follow Elaine Kurtenbach on Twitter: http://www.twitter.com/ekurtenbach

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs