Japan’s factory output slumps by 3.6% in June

Japan’s industrial production contracted by 3.6 per cent in June compared to 3.6 in the previous month, government data released on Wednesday showed. This decline was steeper than the market consensus of a 4.8 per cent drop.

Despite the setback, manufacturers surveyed by the Ministry of Economy, Trade, and Industry expressed optimism for the coming months.

They anticipate a 6.5 per cent increase in output for July and a more modest 0.7 per cent expansion in August.

Attribution: Reuters, Japan’s Ministry of Economy, Trade and Industry