Japan’s Factory Output Drops in Weak Start to Second Quarter
- Production declined for the first time in three months
- Retail sales also fell, signaling slowing consumer momentum
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Japan’s factory output unexpectedly declined for the first time in three months in April amid a global slowdown, in a weak start to the country’s second quarter.
Industrial production fell 0.4% from the previous month after two consecutive months of increases, according to the industry ministry Wednesday. Economists had forecast a 1.4% rise. Factory machinery, metal products and automakers’ output dragged on the overall figures.