TOKYO : Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy.Industrial output fell 2.0 per cent in July from the previous month, data from the Ministry of Economy, Tr
TOKYO : Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy.
Production of cars rose 0.6 per cent thanks to easing supply chain constraints for automakers. Carmakers like Toyota and Honda have huge influence over other Japanese manufacturers through their vast supplier networks. The soft factory output figures followed anaemic July trade data, which saw Japan's exports contract for the first time in more than two years due to faltering global demand for light oil and chip-making equipment.
Other data showed Japanese retail sales expanded 6.8 per cent in July from a year earlier. It was higher than a median market forecast for a 5.4 per cent gain and marked the 17th consecutive month of expansion since March 2022, backed by Japan's economic and tourism reopening from the COVID-19 pandemic.
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