A new purchasing managers' index report shows the damage to the Japanese economy caused by last month's earthquake and tsunami. The Markit/JMMA index, which measures the strength of Japan's manufacturing sector, fell 6.5 percentage points, the largest month-on-month slump ever. "I can't see the Japanese economy returning to anything that looks like normalcy for some time," writes Michael Schuman.

Full Story:
TIME magazine

Related Summaries