Japan Industrial Output Declines

Tokyo, July 30 (QNA) – Japan’s industrial production dropped a seasonally adjusted 3.3 per cent in June from the previous month, the government said Wednesday.

The figure was well below the 1.1-per-cent fall forecast by analysts surveyed by the Nikkei business daily, following a 0.7-per-cent rise in May.

In a downgrade of its basic assessment, the Ministry of Economy, Trade and Industry stated that industrial production had “weakened.” The index of production at factories and mines stood at 96.7 against a baseline of 100 for 2010, the ministry said.

Transport equipment, information and communication electronics equipment, and general-purpose, production and business oriented machinery industries contributed to the bulk of the decrease in June, the ministry said.

Manufacturers surveyed by the ministry expected industrial production to rise 2.5 per cent in July and climb 1.1 per cent in August.

The index of industrial shipments declined 1.9 per cent in June from the previous month to 95.2, and that of industrial inventories rose 1.9 per cent to 110.5, the ministry said.(QNA)

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