(MENAFN- Kuwait News Agency (KUNA)) Japan's factory output fell 1.7 percent in November from the previous month amid sluggish overseas demand, official data showed Friday.
The fall followed a revised 1.6 percent expansion in October, the Ministry of Economy, Trade and Industry said. The ministry maintained its assessment of industrial production of the world's third-biggest economy, saying it is on a downward trend. The November production fall was chiefly due to a decrease in output from carmakers and electronics equipment makers on lower demand in China and other Asian countries.
Exports to China, Japan's biggest export market, have been hit by a slowdown in growth and tensions between Tokyo and Beijing over islands in the East China Sea, which led to Chinese consumer to boycott Japanese products. Looking ahead, manufacturers polled by the ministry expect production will increase 6.7 percent in December and 2.4 percent in January.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.