Japan factory output drops for 3rd month
TOKYO, JULY 30 (AP/UNB) - Japan's industrial production dipped 0.1 percent in June from May, the third straight monthly decline, showing that the world's No. 3 economy continues to struggle.
The Ministry of Economy, Trade and Industry said Monday that factory output - a key indicator for Japan's export-dependent economy - fell on sluggish output of automobiles and electronics equipment.
Looking ahead, manufacturers project a 4.5 percent jump in factory output for July, which could overcome the drop over the previous three months. June's decline comes after a 3.4 percent drop in May and a 0.2 percent decline in April.
METI said that while shipments declined 1.5 percent in June, inventories also fell, dropping 1.4 percent.
The Ministry of Economy, Trade and Industry said Monday that factory output - a key indicator for Japan's export-dependent economy - fell on sluggish output of automobiles and electronics equipment.
Looking ahead, manufacturers project a 4.5 percent jump in factory output for July, which could overcome the drop over the previous three months. June's decline comes after a 3.4 percent drop in May and a 0.2 percent decline in April.
METI said that while shipments declined 1.5 percent in June, inventories also fell, dropping 1.4 percent.
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