A major manufacturing firm extended planned cuts from 4,000 to 4,500 persons as part of a restructuring hastened by overall decreased profits from Asian operations. A check-printing firm also increased announced layoffs from 2,500 to 3,500, as part of internal restructuring rather than weak demand. Strikes are a more prominent feature of district labor markets than in many years. Telecommunications workers were off the job in August and a pilots strike continues to shut down a major airline. Both disrupted other business activity, with the airline strike having wider effects.
Prices remain in check.
Motor fuels are at some of the lowest levels so far this decade. Weak Asian currencies are helping to keep prices of imported goods such as clothing, toys and consumer electronics low. Both manufacturers and retailers describe an intensely competitive business environment in which it is difficult to raise prices. To comment on this site, please fill out our feedback form.