Bad news from Japan today, unemployment rises, while industrial production grows less than expected. And so Moody's seems ever closer to a downgrade of the Asian country's public debt.
The unemployment rate went from 4,6% in March to 4,7% in April. But what is most worrying is industrial production. It grew by only 1% in March, due to the earthquake effect, while analysts expected a leap forward of 2,2%. On an annual basis, however, there was a decrease of 14%.
Since February, Japanese public debt has been classified by Moody's with a rating of Aa2 with a negative outlook. But the agency announced this morning that it could proceed with a downgrade within three months.
