Tokyo, Japan (4E) – Japanese industrial output fell 3.3 percent in June from the previous month, according to the Ministry of Economy, Trade and Industry (METI) report released Wednesday.
The figure was well below economists’ estimates for a 1.2 percent drop after rising 0.7 percent in May.
Industrial production jumped 3.2 percent on annual terms, which is also short of forecasts for 5.2 percent but higher compared to 1.0 percent in the prior month.
Friday’s report also showed that METI downgraded its view of output, saying that industrial production has slowed. The Ministry had previously stated that output had been unchanged.
In a separate report released Monday, retail sales dropped more than anticipated in June, and household spending fell for the third consecutive month. Total retail sales tumbled 7 percent in the recent period from the March quarter.