31. Also, a gas shortage is forcing Russian miner Norilsk to cut production, the Reuters news agency said. 32. Also, the strong yen and weak demand are forcing manufacturers to cut production and trim labor forces. 33. Businesses started cutting production and laying off workers, then failing altogether. 34. Chips prices climbed by two thirds since late January after Japanese and Korean chipmakers cut production. 35. Corn and soybeans also declined, even though the USDA cut its production forecasts, because of concern exports of those crops could fall as well. 36. Efforts earlier this year by OPEC and non-OPEC producers to cut production appear to be doing nothing for prices. 37. Few economists expect a turnaround before next spring since companies are cutting production to trim inventories they built up after underestimating the impact of the tax increases. 38. First OPEC, the consortium of oil-exporting countries, conspired last spring to cut production by millions of barrels a day. 39. For example, both Fiat and Ford had to cut production this year in the face of declining Brazilian demand. 40. For instance, analysts have widely noted that GM entered the strike with a large bubble of excess inventory and likely would have soon cut production anyway. |