Industry News

Japan's industrial output drops 8.4 pct in May

Japan's industrial output dropped in May from a month earlier as a result of waning demand and facility closures amid the global COVID-19 pandemic, the government said in a report on Tuesday.

According to the Ministry of Economy, Trade and Industry, factory output fell 8.4 percent from a month earlier in the recording period, with the seasonally adjusted index of production at factories and mines standing at 79.1 against the 2015 base of 100.

The latest reading comes on the heels of a revised 9.8-percent fall in April, the ministry's data showed.

The ministry's preliminary data showed the index of industrial shipments declined 8.4 percent to 77.2, while that of inventories lost 2.5 percent to 103.4 in the recording period.

Looking ahead the ministry said that based on its survey of manufacturers, production in June is expected to rise 5.7 percent, followed by an estimated 9.7-percent increase in July.

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