"Manufacturers have become cautious about hiring people in the context of global growth"
- Kiichi Murashima, chief economist at Citigroup Global Markets Japan Inc.
Japan's industrial output soared 4 per cent in December, the Ministry of Economy, Trade and Industry reported on Tuesday, a sign the economy is gaining steam after flooding in Thailand and devastating earthquake the last year.
"The pace of recovery will be slow," Nishioka said. "So far, we're seeing some recovery in the auto sector and electronic components, but still it's still not enough to compensate for the gap recorded after the March disaster and the Thai flooding."
In a separate report, the Statistics Bureau said unemployment increased to 4.6 per cent in December from 4.5 per cent in November.
"Manufacturers have become cautious about hiring people in the context of global growth, the yen's appreciation and uncertainty surrounding electricity supply," Kiichi Murashima, chief economist at Citigroup Global Markets Japan Inc., said before the report.
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