Monday, 29 July 2013
Economic Buzz: Japan Industrial Output Falls 3.3 In June
Japan's industrial production took an unexpectedly sharp drop in June, falling a seasonally adjusted 3.3% from May, though manufacturers offered an upbeat outlook for the current month, the Ministry of Economy, Trade and Industry reported Tuesday. A fall in production of transport equipment, including autos, led the decline, followed by electronics and machinery, the ministry said. However, a survey of manufacturers raised their forecast for July's industrial production to a rapid gain of 6.5%, up from 3.3% projected in last month's survey. In May, the survey -- produced by the ministry -- had tipped output to fall 2.4% in June.
Source by Commodity Insights