(MENAFN) Japan's industrial output in May declined a seasonally adjusted 2.2 percent on monthly basis, faster than expected amid slowing sales of automobiles both at home and overseas, Xinhua reported.
The decline was bigger than an average market forecast of a 0.7 percent drop. The ministry cut its basic assessment of output for the first time since last June, saying "it is fluctuating without clear direction."
By sector, output by transport equipment manufacturers, including automakers, dropped 5.4 percent, amid a decline in domestic demand for passenger cars. Sluggish auto exports to Europe also pushed down production.
The chemicals industry saw its output sink 6.1 percent on falling sales of cosmetic products, while that of the electronic parts and devices sector dropped 4.3 percent. In May, only three sectors out of 15 saw their output rise.
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