Economics
Recession Specter Rises in Japan as Industrial Output Slumps
- Production drops unexpectedly for second straight month
- Inventories swell as domestic spending and exports weaken
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Japan’s industrial output unexpectedly fell, raising concern that the economy may have fallen back into its second recession since Prime Minister Shinzo Abe took government.
The slump in production is likely to intensify debate on the need for Abe’s administration to increase spending and for Bank of Japan Governor Haruhiko Kuroda to boost already unprecedented monetary stimulus from the BOJ.