Japanese Exports Post Record Decline

The global recession is making its presence felt all over the world.  Last night, the government of Japan announced that export orders for the month of November fell by 26.7%, for the largest one-month decline since they've been tracking these figures.  Exports to the US fell by even more with a decline of 34%.  While figures this bad make you want to think it can't get any worse, in its assessment of the Japanese economy, the government said conditions are 'worsening.'  For 2009, it doesn't look like the economy will be starting off on a good note.

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