Japan’s Output Drop Misses Consensus as China Woes Reverberate
- China’s slowdown remains a concern for the global economy
- Retail sales increased 2.1% in July versus prior month
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Japan’s industrial production fell more than expected in July as slowing economic activity in China continues to cloud growth prospects for the global economy.
Factory output declined 2% from June, the industry ministry said Thursday. Economists had forecast a 1.4% drop. Manufacturing machinery and electronic components were among the biggest drags on overall output, the ministry said. The auto industry was among sectors giving a boost.