More bad economic news from Europe and Japan

Reuters:

Dire economic data underlined the severity of recession in Europe on Tuesday, while Toyota Motor Corp said it would halt all production in Japan in response to plunging demand.

With the global downturn hitting automakers particularly hard, Toyota, the world's biggest, said it would shut all its factories in Japan for 11 days over February and March.

And as a further indication of how the crisis that began with bad housing loans in the U.S. has reached all parts of the world, a state-run Chinese magazine warned that rising social unrest would follow.